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The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.
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
Denied
Politics
Wrong
Experience
Political
Many
Disastrously
Salutary
Economist
More quotes by John Kenneth Galbraith
In all life one should comfort the afflicted, but verily, also, one should afflict the comfortable, and especially when they are comfortably, contentedly, even happily wrong.
John Kenneth Galbraith
In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand the spiral operates when there is too much and also,unfortunately, when there is just enough.
John Kenneth Galbraith
In the assumption that power belongs as a matter of course to capital, all economists are Marxians.
John Kenneth Galbraith
The Senate has unlimited debate in the House, debate is ruthlessly circumscribed. There is frequent discussion as to which technique most effectively frustrates democratic process.
John Kenneth Galbraith
There are times in politics when you must be on the right side and lose.
John Kenneth Galbraith
Nothing is so admirable in politics as a short memory.
John Kenneth Galbraith
We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had much.
John Kenneth Galbraith
In dealing with Mr. Nixon, it is not easy to be unfair. He invites and justifies all available criticism.
John Kenneth Galbraith
Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.
John Kenneth Galbraith
The power of the corporate bureaucracy - the power of technostructure (a term that did not take off) - is something to which I still adhere.
John Kenneth Galbraith
I think the role of the Federal Reserve is enormously exaggerated.
John Kenneth Galbraith
Unemployment is rarely considered desirable except by those who have not experienced it.
John Kenneth Galbraith
However, it is safe to say that at the peak in 1929 the number of active speculators was less - and probably was much less - than a million.
John Kenneth Galbraith
There's no question that in my lifetime, the contrast between what I called private affluence and public squalor has become very much greater.
John Kenneth Galbraith
The enemy of the conventional wisdom is not ideas but the march of events.
John Kenneth Galbraith
Emancipation of belief is the most formidable of the tasks of reform and the one on which all else depends.
John Kenneth Galbraith
If you're rich you can buy books. If you're poor, you need a library.
John Kenneth Galbraith
The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
John Kenneth Galbraith
The foresight of financial experts was, as so often, a poor guide to the future.
John Kenneth Galbraith
Get the process of negotiation away from the small specialized group that some people have called the nuclear theologians ... Only a few people can understand the nature of these weapons ... This kept the whole discussion to a very limited group of people who, in a way, had assumed responsibility for saying whether we should live or die.
John Kenneth Galbraith
