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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
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Economics
Structure
Immutable
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Guiding
Economy
Confession
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Stable
More quotes by 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.
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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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When you see reference to a new paradigm you should always, under all circumstances, take cover.
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The inborn instability of capitalism has been part of the history of the system for several hundred years.
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I predict, not because I know, but because I'm asked.
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It is not the individual's right to buy that is being protected. Rather, it is the seller's right to manage the individual.
John Kenneth Galbraith
The spirit should never grow old.
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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
A businessman who reads Business Week is lost to fame. One who reads Proust is marked for greatness.
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In the assumption that power belongs as a matter of course to capital, all economists are Marxians.
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Complexity and obscurity have professional value - they are the academic equivalents of apprenticeship rules in the building trades. They exclude the outsiders, keep down the competition, preserve the image of a privileged or priestly class. The man who makes things clear is a scab. He is criticized less for his clarity than for his treachery.
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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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Both we and the Soviets face the common threat of nuclear destruction and there is no likelihood that either capitalism or communism will survive a nuclear war.
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Of all classes the rich are the most noticed and the least studied.
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Money is a singular thing. It ranks with love as man's greatest source of joy. And with death as his greatest source of anxiety. Over all history it has oppressed nearly all people in one of two ways: either it has been abundant and very unreliable, or reliable and very scarce.
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Only in very recent times has the average man been a source of savings.
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.
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In public administration good sense would seem to require that public expectation be kept at the lowest possible level in order to minimize eventual disappointment.
John Kenneth Galbraith
Meetings are indispensable when you don't want to do anything.
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The line dividing the state from what is called private enterprise, orat least fromthehighlyorganized part of it, is a traditional fiction.
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