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To see economic policy as a problem of choice between rival ideologies is the greatest error of our time.
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
Choice
Policy
Ideologies
Greatest
Rival
Economic
Rivals
Choices
Error
Problem
Ideology
Time
Investing
Errors
More quotes by 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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For the sake of The Progressive, I will say that [Robert] La Follette was relevant, but he was the last.
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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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The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
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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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Anyone who says he won't resign four times, will.
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All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.
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In the autumn of 1929 the mightiest of Americans were, for a brief time, revealed as human beings.
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Power is as power does.
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Of all classes the rich are the most noticed and the least studied.
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Economists are generally negligent of their heroes.
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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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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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Even the word depression itself was the terminological product of an effort to soften the connotation of deep trouble. In the last century, the term crisis was normally employed. With time, however, this acquired the connotation of the misfortune it described.
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Economists are economical, among other things, of ideas most make those of their graduate days do for a lifetime.
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Franklin Delano Roosevelt and J.F Kennedy were Presidents in very different times.
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A businessman who reads Business Week is lost to fame. One who reads Proust is marked for greatness.
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There can be no question, however, that prolonged commitment to mathematical exercises in economics can be damaging. It leads to the atrophy of judgement and intuition. . .
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In 1736, Franklin's Pennsylvania Gazette printed an apology for its irregular appearence because its printer was with the Press, labouring for the publick Good, to make Money more plentiful. The press was busy printing money.
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