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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
Scholarship
Much
Economist
Think
Colleagues
Thinking
Professional
Less
Wells
Well
Economists
Whole
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Genius is a rising stock market.
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Nothing so denies a person liberty as the total absence of money.
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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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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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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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The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
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The more underdeveloped the country, the more overdeveloped the women.
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Only men of considerable vanity write books consistently therewith, I worried lest the world were exchanging an irreplaceable author for a more easily purchased diplomat.
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The family which takes it mauve and cerise, air conditioned, power-steered, and power braked automobile out for a tour passes through cities that are badly paved, made hideous by litter, blighted buildings, billboards, and posts for wires that should long since have been put underground.
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The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.
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The only function of economic forecasting is to make astrology look respectable.
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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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For the sake of The Progressive, I will say that [Robert] La Follette was relevant, but he was the last.
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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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It takes a certain brashness to attack the accepted economic legendsbut noneat all toperpetuatethem. So theyare perpetuated.
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It was not hard to persuade people that the market was sound as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.
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All successful revolutions are the kicking in of a rotten door. The violence of revolutions is the violence of men who charge into a vacuum.
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No solution [to the problem of poverty] is so effective as providing income to the poor. Whether in the form of food, housing, health services, education or money, income is an excellent antidote for deprivation. No truth has spawned so much ingenious evasion.
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All writers know that on some golden mornings they are touched by the wand they are on intimate terms with poetry and cosmic truth. I have experienced these moments myself. Their lesson is simple: It's a total illusion. And the danger in the illusion is that you will wait for those moments.
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One man's consumption becomes his neighbor's wish.
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