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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
Economics
Structure
Immutable
Greatest
Guiding
Economy
Confession
Seeing
Stable
Believe
Error
Investing
Errors
More quotes by John Kenneth Galbraith
If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to trickle down economics).
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Ralph [ Nader] is an old friend of mine, and he does a useful job in displaying a position.
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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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Writing is a long and lonesome business back of the problems in thought and composition hover always the awful questions: Is this the page that shows the empty shell? Is it here and now that they find me out?
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Foreign policy is conducted for the convenience and enjoyment of people in Washington.
John Kenneth Galbraith
The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
John Kenneth Galbraith
Happiness does not require an expanding economy
John Kenneth Galbraith
Inventions that are not made, like babies that are not born, are rarely missed.
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
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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If all else fails immortality can always be assured by adequate error.
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Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations.
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I've been writing a book called The Economics of Innocent Fraud. I published part of it already in The Progressive (Free Market Fraud, January 1999). But I've been interrupted these last few months. It deals with all of the things we do, in an innocent way, to cover up the truth.
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Superficial observers have long criticized the United States for making a fetish of youth. This is unfair. Uniquely among modern organs of public and private administration, its national legislature rewards senility.
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[Franklin Delano] Roosevelt was the central world figure in the two great disasters of this century - the Great Depression and World War II. By contrast, JFK came in relatively peaceful, agreeable times.
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We talk of the enormous virtues of work, but it turns out that that is mostly for the poor. If you're rich enough or if you're a college professor, the virtue lies in leisure and the use you make of your leisure time.
John Kenneth Galbraith
Commencement oratory must eschew anything that smacks of partisan politics, political preference, sex, religion or unduly firm opinion. Nonetheless, there must be a speech: Speeches in our culture are the vacuum that fills a vacuum.
John Kenneth Galbraith
Preservationists are the only people in the world who are invariably confirmed in their wisdom after the fact.
John Kenneth Galbraith
Talk of revolution is one of avoiding reality.
John Kenneth Galbraith
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.
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