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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
World
Finance
Version
Wheels
Versions
Hails
Investing
Hail
Invention
Unstable
Often
Wheel
Business
Slightly
More quotes by 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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The questions that are beyond the reach of economics-the beauty, dignity, pleasure and durability of life-may be inconvenient but they are important.
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Conscience is better served by a myth.
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I do the best with what exists.
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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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In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd.
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You will find that [the] State [Department] is the kind of organisation which, though it does big things badly, does small things badly too.
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Few economic problems, if any, are difficult of solution. The difficulty, all but invariably, is in confronting them. We know what needs to be done for reasons of inertia, pecuniary interest, passion or ignorance, we do not wish to say so.
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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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Inventions that are not made, like babies that are not born, are rarely missed.
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We live surrounded by a systematic appeal to a dream world which all mature, scientific reality would reject. We, quite literally, advertise our commitment to immaturity, mendacity and profound gullibility. It is as the hallmark of the culture. And it is justified as being economically indispensable.
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Pundits forecast not because they know, but because they are asked.
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Financial operations do not lend themselves to innovation. What is recurrently so described and celebrated is, without exception, a small variation on an established design . . . The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.
John Kenneth Galbraith
There is something wonderful in seeing a wrong-headed majority assailed by truth.
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But it can be laid down as a rule that those who speak most of liberty are least inclined to use it.
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Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study.
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More die in the United States of too much food than of too little.
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The power of the corporate bureaucracy - the power of technostructure (a term that did not take off) - is something to which I still adhere.
John Kenneth Galbraith
The urge to consume is fathered by the value system which emphasizes the ability of the society to produce.
John Kenneth Galbraith
At best, in such depression times, monetary policy is a feeble reed on which to lean.
John Kenneth Galbraith
