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Only in very recent times has the average man been a source of savings.

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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Men
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More quotes by John Kenneth Galbraith

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In the usual (though certainly not in every) public decision on economic policy, the choice is between courses that are almost equally good or equally bad. It is the narrowest decisions that are most ardently debated.
John Kenneth Galbraith
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People who are in a fortunate position always attribute virtue to what makes them so happy.
John Kenneth Galbraith
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Inventions that are not made, like babies that are not born, are rarely missed.
John Kenneth Galbraith
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There is something wonderful in seeing a wrong-headed majority assailed by truth.
John Kenneth Galbraith
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The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.
John Kenneth Galbraith
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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.
John Kenneth Galbraith
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What was needed was a policy that increased the supply of money available for use and then ensured its use. Then the state of trade would have to improve.
John Kenneth Galbraith
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Superficial observers have long criticized the United States for making a fetish of youth. This is unfair. Uniquely among modern organs of public and private administration, its national legislature rewards senility.
John Kenneth Galbraith
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A more important antidote to American democracy is American gerontocracy. The positions of eminence and authority in Congress are allotted in accordance with length of service, regardless of quality.
John Kenneth Galbraith
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More die in the United States of too much food than of too little.
John Kenneth Galbraith
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The seminar in economic theory conducted by Hayek at the L.S.E. in the 1930s was attended, it came to seem, by all of the economists of my generation - Nicky Kaldor , Thomas Balogh, L. K. Jah, Paul Rosenstein-Rodan, the list could be indefinitely extended. The urge to participate (and correct Hayek) was ruthlessly competitive.
John Kenneth Galbraith
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The enemy of the conventional wisdom is not ideas but the march of events.
John Kenneth Galbraith
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I accept the global complex and global trade more than do some of my liberal colleagues because I consider this a wise alternative to national tension and conflict.
John Kenneth Galbraith
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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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Emancipation of belief is the most formidable of the tasks of reform and the one on which all else depends.
John Kenneth Galbraith
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No nice philosophical point has ever been so decisively resolved as this: that those who are not conceived do not miss the pleasure of consuming the goods they do not get born to enjoy.
John Kenneth Galbraith
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The modern corporation must manufacture not only goods but the desire for the goods it manufactures.
John Kenneth Galbraith
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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.
John Kenneth Galbraith
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I've long believed alas, that in highly organized industrial societies, capitalist or socialist, the stronger tendency is to converge - that if steel or automobiles are wanted and must be made on a large scale, the process will stamp its imprint on the society, whether that me be Magnitogorsk or Gary, Indiana.
John Kenneth Galbraith
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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.
John Kenneth Galbraith