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Oligopoly is an imperfect monopoly. Like the despotism of the Dual Monarchy, it is saved only by its incompetence.
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
Monarchy
Monopoly
Imperfect
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Oligopoly
Dual
Incompetence
Despotism
More quotes by John Kenneth Galbraith
No society ever seems to have succumbed to boredom. Man has developed an obvious capacity for surviving the pompous reiteration of the commonplace.
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In 1736, Franklin's Pennsylvania Gazette printed an apology for its irregular appearence because its printer was with the Press, labouring for the publick Good, to make Money more plentiful. The press was busy printing money.
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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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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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In economics it is a far, far wiser thing to be right than to be consistent
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Very important functions can be performed very wastefully and often are.
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Pundits forecast not because they know, but because they are asked.
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The conspicuously wealthy turn up urging the character building values of the privation of the poor.
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy that is, the search for a superior moral justification for selfishness.
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People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.
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To see economic policy as a problem of choice between rival ideologies is the greatest error of our time.
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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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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.
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Private enterprise did not get us atomic energy.
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There is something wonderful in seeing a wrong-headed majority assailed by truth.
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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.
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I've become accustomed to supporting politicians who are more conservative than I am. This is not entirely a surprise.
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At best, in such depression times, monetary policy is a feeble reed on which to lean.
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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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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.
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