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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
Dual
Incompetence
Despotism
Monarchy
Monopoly
Imperfect
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Oligopoly
More quotes by John Kenneth Galbraith
In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand the spiral operates when there is too much and also,unfortunately, when there is just enough.
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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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Ideas do not respect national frontiers, and this is especially so where language and other traditions are in common.
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Meetings are a great trap. Soon you find yourself trying to get agreement and then the people who disagree come to think they have a right to be persuaded. However, they are indispensable when you don't want to do anything.
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I do the best with what exists.
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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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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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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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It is not the individual's right to buy that is being protected. Rather, it is the seller's right to manage the individual.
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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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We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had much.
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Unemployment is rarely considered desirable except by those who have not experienced it.
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If you get a reputation for being honest, you have 95 percent of the competition already beat.
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The foresight of financial experts was, as so often, a poor guide to the future.
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Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
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Happiness does not require an expanding economy
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The first goal of the technostructure is its own security.
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Agriculture is one economic activity that does not obey the laws of demand and supply.
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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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The more underdeveloped the country, the more overdeveloped the women.
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