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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.
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
Believe
Error
Investing
Errors
Economics
Structure
Immutable
Greatest
Guiding
Economy
Confession
Seeing
Stable
More quotes by John Kenneth Galbraith
A drastic reduction in weapons competition following a general release from the commitment to the Cold War would be sharply in conflict with the needs of the industrial system.
John Kenneth Galbraith
Foreign policy is conducted for the convenience and enjoyment of people in Washington.
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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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I accept the global complex and global trade more than do some of my liberal colleagues because I consider this a wise alternative to national tension and conflict.
John Kenneth Galbraith
The first goal of the technostructure is its own security.
John Kenneth Galbraith
What was needed was a policy that increased the supply of money available for use and then ensured its use. Then the state of trade would have to improve.
John Kenneth Galbraith
These are the days when men of all social disciplines and all political faiths seek the comfortable and the accepted when the man of controversy is looked upon as a disturbing influence when originality is taken to be a mark of instability and when, in minor modification of the original parable, the bland lead the bland.
John Kenneth Galbraith
Talk of revolution is one of avoiding reality.
John Kenneth Galbraith
Of all the mysteries of the stock exchange there is none so impenetrable as why there should be a buyer for everyone who seeks to sell.
John Kenneth Galbraith
A wrong decision isn't forever it can always be reversed. The losses from a delayed decision are forever they can never be retrieved.
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Private enterprise did not get us atomic energy.
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It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.
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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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Technology means the systematic application of scientific or other organized knowledge to practical tasks.
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.
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The conspicuously wealthy turn up urging the character building values of the privation of the poor.
John Kenneth Galbraith
If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to trickle down economics).
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
Power is not something that can be assumed or discarded at will like underwear.
John Kenneth Galbraith
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
