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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
Political
Many
Disastrously
Salutary
Economist
Denied
Politics
Wrong
Experience
More quotes by John Kenneth Galbraith
In the early days of the crash it was widely believed that Jesse L. Livermore, a Bostonian with a large and unquestionably exaggerated reputation for bear operations, leading a syndicate that was driving the market down.
John Kenneth Galbraith
No one was responsible for the great Wall Street crash. No one engineered the speculation that preceded it. Both were the product of free choice and decision of hundreds of thousands of individuals.
John Kenneth Galbraith
Things that come from the private sector are in abundant supply things that depend on the public sector are widely a problem. We're a world, as I said in The Affluent Society, of filthy streets and clean houses, poor schools and expensive television.
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
Ralph [ Nader] is an old friend of mine, and he does a useful job in displaying a position.
John Kenneth Galbraith
I think without a doubt, that what is called financial genius is merely a rising market.
John Kenneth Galbraith
Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study.
John Kenneth Galbraith
This is a world inhabited not by people who have to be persuaded to believe but by people who want an excuse to believe.
John Kenneth Galbraith
Nothing is so admirable in politics as a short memory.
John Kenneth Galbraith
The conspicuously wealthy turn up urging the character building values of the privation of the poor.
John Kenneth Galbraith
Only in very recent times has the average man been a source of savings.
John Kenneth Galbraith
Economists are economical, among other things, of ideas most make those of their graduate days do for a lifetime.
John Kenneth Galbraith
The notion that you would initiate a new product without preparing the way by persuasion and advertising and salesmanship is fantastic. It's an integral part of the system.
John Kenneth Galbraith
But there is merit even in the mentally retarded legislator. He asks the questions that everyone is afraid to ask for fear of seeming simple.
John Kenneth Galbraith
I've long believed alas, that in highly organized industrial societies, capitalist or socialist, the stronger tendency is to converge - that if steel or automobiles are wanted and must be made on a large scale, the process will stamp its imprint on the society, whether that me be Magnitogorsk or Gary, Indiana.
John Kenneth Galbraith
Humor is richly rewarding to the person who employs it. It has some value in gaining and holding attention, but it has no persuasive value at all.
John Kenneth Galbraith
Educators have yet to realize how deeply the industrial system is dependent upon them.
John Kenneth Galbraith
In economics it is a far, far wiser thing to be right than to be consistent
John Kenneth Galbraith
Conscience is better served by a myth.
John Kenneth Galbraith
In the United States all business not transacted over the telephone is accomplished in conjunction with alcohol or food, often under conditions of advanced intoxication. This is a fact of the utmost importance for the visitor of limited funds... for it means that the most expensive restaurants are, with rare exceptions, the worst.
John Kenneth Galbraith
