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Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations.
John Kenneth Galbraith
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John Kenneth Galbraith
Age: 97 †
Born: 1908
Born: October 15
Died: 2006
Died: April 29
Diplomat
Economist
Non-Fiction Writer
Politician
University Teacher
John K. Galbraith
Place
Calculations
Men
Benefit
Washington
Praise
Benefits
Cost
Courage
Personal
Elaborate
More quotes by John Kenneth Galbraith
Economics exists to make astrology look respectable.
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It takes some skill to spoil a breakfast - even the English can't do it.
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There is a common tendency to ignore the poor or to develop some rationalisation for the good fortune of the fortunate.
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Faced with having to change our views or prove that there is no need to do so, most of us immediately get busy on the proof.
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At best, in such depression times, monetary policy is a feeble reed on which to lean.
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The myth that holds that the great corporation is the puppet of the market, the powerless servant of the consumer, is, in fact one of the devices by which its power is perpetuated.
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The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.
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If you get a reputation for being honest, you have 95 percent of the competition already beat.
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All, the intelligent and stupid, diligent and idle, have been swept along on a current of increased output that, in the usual case, owed nothing whatever to their efforts.
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There's a certain part of the contented majority who love anybody who is worth a billion dollars.
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The only function of economic forecasting is to make astrology look respectable.
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The line dividing the state from what is called private enterprise, orat least fromthehighlyorganized part of it, is a traditional fiction.
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There's no question that in my lifetime, the contrast between what I called private affluence and public squalor has become very much greater.
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It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.
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It has been the acknowledged right of every Marxist scholar to read into Marx the particular meaning that he himself prefers and to treat all others with indignation.
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We talk of the enormous virtues of work, but it turns out that that is mostly for the poor. If you're rich enough or if you're a college professor, the virtue lies in leisure and the use you make of your leisure time.
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Economists are generally negligent of their heroes.
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One man's consumption becomes his neighbor's wish.
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Meetings are indispensable when you don't want to do anything.
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A wrong decision isn't forever it can always be reversed. The losses from a delayed decision are forever they can never be retrieved.
John Kenneth Galbraith
