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The myth that holds that the great corporation is the puppet of the market, the powerless servant of the consumer, is, in fact one of the devices by which its power is perpetuated.
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
Facts
Devices
Power
Holds
Great
Servant
Perpetuated
Consumers
Puppet
Corporations
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Myth
Corporation
Market
Consumer
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Powerless
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Economic stimulation that works through the increased outlays to the affluent has, inevitably, an aspect of soundness and sanity that is lacking in expenditure on behalf of the undeserving poor.
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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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A very complicated mass of things influences the economy - the speculative effect, government policy, consumer borrowing and spending, the level of technical innovation (which I concede, although everyone emphasizes it too much), and much more - including, of course, the rate of inflation.
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The happiest time of anyone's life is just after the first divorce.
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Wealth is not without its advantages and the case to the contrary, although it has often been made, has never proved widely persuasive.
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Increasingly in recent times we have come first to identify the remedy that is most agreeable, most convenient, most in accord with major pecuniary or political interest, the one that reflects our available faculty for action then we move from the remedy so available or desired back to a cause to which that remedy is relevant.
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Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy — what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.
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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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Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.
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Why is anything intrinsically so valueless so obviously desirable?
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For the sake of The Progressive, I will say that [Robert] La Follette was relevant, but he was the last.
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Originality is something that is easily exaggerated, especially by authors contemplating their own work.
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The conspicuously wealthy turn up urging the character building values of the privation of the poor.
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When you see reference to a new paradigm you should always, under all circumstances, take cover.
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We live surrounded by a systematic appeal to a dream world which all mature, scientific reality would reject. We, quite literally, advertise our commitment to immaturity, mendacity and profound gullibility. It is as the hallmark of the culture. And it is justified as being economically indispensable.
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I react to what is necessary. I would like to eschew any formula.
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I think the role of the Federal Reserve is enormously exaggerated.
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According to the experience of all but the most accomplished jugglers, it is easier to keep one ball in the air than many.
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Economics exists to make astrology look respectable.
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