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Even the word depression itself was the terminological product of an effort to soften the connotation of deep trouble. In the last century, the term crisis was normally employed. With time, however, this acquired the connotation of the misfortune it described.

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
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However
Described
Even
Deep
Normally
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Century
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Depression
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Crisis
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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 spirit should never grow old.
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The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
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I react to what is necessary. I would like to eschew any formula.
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Of all the mysteries of the stock exchange there is none so impenetrable as why there should be a buyer for everyone who seeks to sell.
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We talk of the enormous virtues of work, but it turns out that that is mostly for the poor. If you're rich enough or if you're a college professor, the virtue lies in leisure and the use you make of your leisure time.
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When you see reference to a new paradigm you should always, under all circumstances, take cover.
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Preservationists are the only people in the world who are invariably confirmed in their wisdom after the fact.
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Of late I have searched diligently to discover the advantages of age, and there is, I have concluded, only one. It is that lovely women treat your approaches with understanding rather than with disdain.
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I never enjoyed writing a book more indeed, it is the only one I remember in no sense as a labor but as a joy.
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One man's consumption becomes his neighbor's wish.
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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.
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Economists, on the whole, think well of what they do themselves and much less well of what their professional colleagues do.
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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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In all life one should comfort the afflicted, but verily, also, one should afflict the comfortable, and especially when they are comfortably, contentedly, even happily wrong.
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Where humor is concerned there are no standards - no one can say what is good or bad, although you can be sure that everyone will.
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Consumer wants can have bizarre, frivolous, or even immoral origins, and an admirable case can still be made for a society that seeks to satisfy them. But the case cannot stand if it is the process of satisfying wants that create the wants.
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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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