Quote

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. . .

John Kenneth Galbraith

Change background

T
T
T

Change font

TAGS & TOPICS

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
However
Statistics
Exercise
Intuition
Question
Mathematical
Math
Atrophy
Leads
Prolonged
Economics
Damaging
Mathematics
Exercises
Commitment
Judgement

More quotes by John Kenneth Galbraith

Image
Nothing so weakens government as persistent inflation.
John Kenneth Galbraith
Image
Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth.
John Kenneth Galbraith
Image
Wealth is not without its advantages and the case to the contrary, although it has often been made, has never proved widely persuasive.
John Kenneth Galbraith
Image
No solution [to the problem of poverty] is so effective as providing income to the poor. Whether in the form of food, housing, health services, education or money, income is an excellent antidote for deprivation. No truth has spawned so much ingenious evasion.
John Kenneth Galbraith
Image
It was not hard to persuade people that the market was sound as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.
John Kenneth Galbraith
Image
If you get a reputation for being honest, you have 95 percent of the competition already beat.
John Kenneth Galbraith
Image
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
Image
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
Image
Speeches in our culture are the vacuum that fills a vacuum.
John Kenneth Galbraith
Image
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
Image
Originality is something that is easily exaggerated, especially by authors contemplating their own work.
John Kenneth Galbraith
Image
Because of his compassion Owen was always in trouble with his partners. They would have much preferred a tough, down-to-earth manager who would get a days work out of the little bastards.
John Kenneth Galbraith
Image
The more underdeveloped the country, the more overdeveloped the women.
John Kenneth Galbraith
Image
The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.
John Kenneth Galbraith
Image
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
Image
Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
John Kenneth Galbraith
Image
A more important antidote to American democracy is American gerontocracy. The positions of eminence and authority in Congress are allotted in accordance with length of service, regardless of quality.
John Kenneth Galbraith
Image
American university presidents are a nervous breed I have never thought well of them as a class.
John Kenneth Galbraith
Image
Nothing so denies a person liberty as the total absence of money.
John Kenneth Galbraith
Image
Only men of considerable vanity write books consistently therewith, I worried lest the world were exchanging an irreplaceable author for a more easily purchased diplomat.
John Kenneth Galbraith