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The urge to consume is fathered by the value system which emphasizes the ability of the society to produce.
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
Values
Consume
Urge
Urges
Value
Produce
System
Ability
Fathered
Society
Emphasizes
More quotes by John Kenneth Galbraith
War remains the decisive human failure.
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The years of the Great Depression were a superb time for economists because people not knowing what could be done or what should be done would always assume that maybe an economist had the answer. If you were just a lawyer in Washington, you were nobody. But if you were an economist, you might have the answer.
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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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It takes a certain brashness to attack the accepted economic legendsbut noneat all toperpetuatethem. So theyare perpetuated.
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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.
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Things that come from the private sector are in abundant supply things that depend on the public sector are widely a problem. We're a world, as I said in The Affluent Society, of filthy streets and clean houses, poor schools and expensive television.
John Kenneth Galbraith
The foresight of financial experts was, as so often, a poor guide to the future.
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At best, in such depression times, monetary policy is a feeble reed on which to lean.
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I think without a doubt, that what is called financial genius is merely a rising market.
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I was brought up in southwestern Ontario where we were taught that Canadian patriotism should not withstand anything more than a five-dollar-a-month wage differential. Anything more than that and you went to Detroit.
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In the usual (though certainly not in every) public decision on economic policy, the choice is between courses that are almost equally good or equally bad. It is the narrowest decisions that are most ardently debated.
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I do the best with what exists.
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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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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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I never enjoyed writing a book more indeed, it is the only one I remember in no sense as a labor but as a joy.
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We shall have a race of men who are strong on telemetry and space communications but who cannot read anything but a blueprint or write anything but a computer program.
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Oligopoly is an imperfect monopoly. Like the despotism of the Dual Monarchy, it is saved only by its incompetence.
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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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If people are hungry, ill-clad, unsheltered or diseased, nothing is so important as to remedy their condition.
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