Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

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
Innovation
Finance
Hail
Financial
Version
Lend
Design
Established
Unstable
Small
Wheels
Variation
Often
Exception
Skeptical
Without
Operations
Wheel
World
Versions
Described
Hails
Invention
Slightly
Celebrated

More quotes by John Kenneth Galbraith

Image
It is not the individual's right to buy that is being protected. Rather, it is the seller's right to manage the individual.
John Kenneth Galbraith
Image
Speeches in our culture are the vacuum that fills a vacuum.
John Kenneth Galbraith
Image
In any great organization it is far, far safer to be wrong with the majority than to be right alone.
John Kenneth Galbraith
Image
The present age of contentment will come to an end only when and if the adverse developments that it fosters challenge the sense of comfortable well-being
John Kenneth Galbraith
Image
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.
John Kenneth Galbraith
Image
If you get a reputation for being honest, you have 95 percent of the competition already beat.
John Kenneth Galbraith
Image
The notion that you would initiate a new product without preparing the way by persuasion and advertising and salesmanship is fantastic. It's an integral part of the system.
John Kenneth Galbraith
Image
The privileged have regularly invited their own destruction with their greed.
John Kenneth Galbraith
Image
The only function of economic forecasting is to make astrology look respectable.
John Kenneth Galbraith
Image
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.
John Kenneth Galbraith
Image
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
Image
More die in the United States of too much food than of too little.
John Kenneth Galbraith
Image
I've become accustomed to supporting politicians who are more conservative than I am. This is not entirely a surprise.
John Kenneth Galbraith
Image
Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.
John Kenneth Galbraith
Image
In economics, the majority is always wrong.
John Kenneth Galbraith
Image
There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.
John Kenneth Galbraith
Image
No one was responsible for the great Wall Street crash. No one engineered the speculation that preceded it. Both were the product of free choice and decision of hundreds of thousands of individuals.
John Kenneth Galbraith
Image
We now in the United States have more security guards for the rich than we have police services for the poor districts. If you're looking for personal security, far better to move to the suburbs than to pay taxes in New York.
John Kenneth Galbraith
Image
People who are in a fortunate position always attribute virtue to what makes them so happy.
John Kenneth Galbraith
Image
I predict, not because I know, but because I'm asked.
John Kenneth Galbraith