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Nothing so weakens government as persistent inflation.

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
Economics
Government
Nothing
Weakens
Persistent
Inflation

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There is little that can be said about most economic goods. A toothbrush does little but clean teeth. Aspirin does little but dull pain. Alcohol is important mostly for making people more or less drunk ... There being so little to be said, much is to be invented.
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THE GENIUS of the industrial system lies in its organized use of capital and technology. This is made possible, as we have duly seen, by extensively replacing the market with planning.
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Men are, in fact, either sustained by organization or they sustain organization.
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Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth.
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Why is anything intrinsically so valueless so obviously desirable?
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The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.
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Ideas do not respect national frontiers, and this is especially so where language and other traditions are in common.
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Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof.
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It takes some skill to spoil a breakfast - even the English can't do it.
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A good rule of conversation is never answer a foolish question.
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Conscience is better served by a myth.
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The present age of contentment will come to an end only when and if the adverse developments that it fosters challenge the sense of comfortable well-being
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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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The privileged have regularly invited their own destruction with their greed.
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In the conventional wisdom of conservatives, the modern search for security is regularly billed as the greatest single threat to economic progress.
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There is wonder and a certain wicked pleasure in these giddy ascents and terrible falls, especially as they happen to other people.
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When people are least sure, they are often most dogmatic.
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In dealing with Mr. Nixon, it is not easy to be unfair. He invites and justifies all available criticism.
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There can be no question, however, that prolonged commitment to mathematical exercises in economics can be damaging. It leads to the atrophy of judgement and intuition. . .
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Meetings are a great trap. Soon you find yourself trying to get agreement and then the people who disagree come to think they have a right to be persuaded. However, they are indispensable when you don't want to do anything.
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