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In the assumption that power belongs as a matter of course to capital, all economists are Marxians.

John Kenneth Galbraith

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John Kenneth Galbraith
Age: 97 †
Born: 1908
Born: October 15
Died: 2006
Died: April 29
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Economist
Non-Fiction Writer
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John K. Galbraith
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Economists

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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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You roll back the stones, and you find slithering things. That is the world of Richard Nixon.
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Technology means the systematic application of scientific or other organized knowledge to practical tasks.
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THE GENIUS of the industrial system lies in its organized use of capital and technology. This is made possible, as we have duly seen, by extensively replacing the market with planning.
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There can be no question, however, that prolonged commitment to mathematical exercises in economics can be damaging. It leads to the atrophy of judgement and intuition. . .
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There are days when the result is so bad that no fewer than five revisions are required. In contrast, when I'm greatly inspired, only four revisions are needed.
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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.
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The enemy of the conventional wisdom is not ideas but the march of events.
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At best, in such depression times, monetary policy is a feeble reed on which to lean.
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Emancipation of belief is the most formidable of the tasks of reform and the one on which all else depends.
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Money is a singular thing. It ranks with love as man's greatest source of joy. And with death as his greatest source of anxiety. Over all history it has oppressed nearly all people in one of two ways: either it has been abundant and very unreliable, or reliable and very scarce.
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All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.
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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.
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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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The modern conservative is engaged in one of man's oldest exercises in moral philosophy that is, the search for a superior moral justification for selfishness.
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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.
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Clearly the most unfortunate people are those who must do the same thing over and over again, every minute, or perhaps twenty to the minute. They deserve the shortest hours and the highest pay.
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Nothing so denies a person liberty as the total absence of money.
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A businessman who reads Business Week is lost to fame. One who reads Proust is marked for greatness.
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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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