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The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.
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
Invention
Unstable
Often
Wheel
Business
Slightly
World
Finance
Version
Wheels
Versions
Hails
Investing
Hail
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There is a common tendency to ignore the poor or to develop some rationalisation for the good fortune of the fortunate.
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People who are in a fortunate position always attribute virtue to what makes them so happy.
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The foresight of financial experts was, as so often, a poor guide to the future.
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Genius is a rising stock market.
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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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Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
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The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
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In any great organization it is far, far safer to be wrong with the majority than to be right alone.
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Private enterprise did not get us atomic energy.
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In the conventional wisdom of conservatives, the modern search for security is regularly billed as the greatest single threat to economic progress.
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If it is dangerous to suppose that government is always right, it will sooner or later be awkward for public administration if most people suppose that it is always wrong.
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To see economic policy as a problem of choice between rival ideologies is the greatest error of our time.
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In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd.
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We now in the United States have more security guards for the rich than we have police services for the poor districts. If you're looking for personal security, far better to move to the suburbs than to pay taxes in New York.
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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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It would be foolish to suggest that government is a good custodian of aesthetic goals. But, there is no alternative to the state.
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