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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.
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
System
Release
War
Competition
Needs
Following
Would
Commitment
Conflict
Sharply
Weapons
Drastic
General
Reduction
Cold
Industrial
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Franklin Delano Roosevelt and J.F Kennedy were Presidents in very different times.
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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.
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Faced with having to change our views or prove that there is no need to do so, most of us immediately get busy on the proof.
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The privileged have regularly invited their own destruction with their greed.
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[Franklin Delano] Roosevelt was the central world figure in the two great disasters of this century - the Great Depression and World War II. By contrast, JFK came in relatively peaceful, agreeable times.
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However, it is safe to say that at the peak in 1929 the number of active speculators was less - and probably was much less - than a million.
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Educators have yet to realize how deeply the industrial system is dependent upon them.
John Kenneth Galbraith
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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One can relish the varied idiocy of human action during a panic to the full, for, while it is a time of great tragedy, nothing is being lost but money.
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There was something superficial in attributing anything so awful as the Great Depression to anything so insubstantial as speculation in common stocks.
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The Senate has unlimited debate in the House, debate is ruthlessly circumscribed. There is frequent discussion as to which technique most effectively frustrates democratic process.
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In economics, the majority is always wrong.
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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.
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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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Those days [of the Vietnam War] you couldn't get on a bus going to the South without expecting a riot over something or the other. All of that has disappeared thanks to Lyndon Johnson.
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There is a common tendency to ignore the poor or to develop some rationalisation for the good fortune of the fortunate.
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Few economic problems, if any, are difficult of solution. The difficulty, all but invariably, is in confronting them. We know what needs to be done for reasons of inertia, pecuniary interest, passion or ignorance, we do not wish to say so.
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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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In economics it is a far, far wiser thing to be right than to be consistent
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One of my greatest pleasures in my writing has come from the thought that perhaps my work might annoy someone of comfortably pretentious position. Then comes the realization that such people rarely read.
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