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In recent times no problem has been more puzzling to thoughtful people than why, in a troubled world, we make such poor use of our affluence.
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
Thoughtful
Poor
Times
Use
Problem
Puzzling
Make
Affluence
World
Troubled
People
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More quotes by John Kenneth Galbraith
There is something wonderful in seeing a wrong-headed majority assailed by truth.
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Because of his compassion Owen was always in trouble with his partners. They would have much preferred a tough, down-to-earth manager who would get a days work out of the little bastards.
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A drastic reduction in weapons competition following a general release from the commitment to the Cold War would be sharply in conflict with the needs of the industrial system.
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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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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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Genius is a rising stock market.
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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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In the United States all business not transacted over the telephone is accomplished in conjunction with alcohol or food, often under conditions of advanced intoxication. This is a fact of the utmost importance for the visitor of limited funds... for it means that the most expensive restaurants are, with rare exceptions, the worst.
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In dealing with Mr. Nixon, it is not easy to be unfair. He invites and justifies all available criticism.
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American university presidents are a nervous breed I have never thought well of them as a class.
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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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It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.
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Men are, in fact, either sustained by organization or they sustain organization.
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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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The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.
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Complexity and obscurity have professional value - they are the academic equivalents of apprenticeship rules in the building trades. They exclude the outsiders, keep down the competition, preserve the image of a privileged or priestly class. The man who makes things clear is a scab. He is criticized less for his clarity than for his treachery.
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I do the best with what exists.
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Anyone who says he won't resign four times, will.
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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
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.
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