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Economists, on the whole, think well of what they do themselves and much less well of what their professional colleagues do.
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
Think
Economist
Thinking
Colleagues
Professional
Less
Wells
Well
Whole
Economists
Much
Scholarship
More quotes by John Kenneth Galbraith
Authorship of any sort is a fantastic indulgence of the ego.
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I accept the global complex and global trade more than do some of my liberal colleagues because I consider this a wise alternative to national tension and conflict.
John Kenneth Galbraith
Ideas do not respect national frontiers, and this is especially so where language and other traditions are in common.
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Those days [of the Vietnam War] you couldn't get on a bus going to the South without expecting a riot over something or the other. All of that has disappeared thanks to Lyndon Johnson.
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When people are least sure, they are often most dogmatic.
John Kenneth Galbraith
People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.
John Kenneth Galbraith
Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
John Kenneth Galbraith
There are days when the result is so bad that no fewer than five revisions are required. In contrast, when I'm greatly inspired, only four revisions are needed.
John Kenneth Galbraith
Anyone who says he won't resign four times, will.
John Kenneth Galbraith
A point must be repeated: only the pathological weakness of the financial memory...allows us to believe that the modern experience of....debt...is in any way a new phenomenon.
John Kenneth Galbraith
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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But there is merit even in the mentally retarded legislator. He asks the questions that everyone is afraid to ask for fear of seeming simple.
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Who is king in the world of the blind when there isn't even a one eyed man?
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It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.
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The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled.
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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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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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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.
John Kenneth Galbraith
It was Herbert Spencer, not Charles Darwin, who coined the phrase Survival of the Fittest.
John Kenneth Galbraith
Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.
John Kenneth Galbraith
