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It is not the individual's right to buy that is being protected. Rather, it is the seller's right to manage the individual.
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
Seller
Sellers
Protected
Manage
Rather
Individual
Right
More quotes by John Kenneth Galbraith
Nothing is more portable than rich people and their money
John Kenneth Galbraith
All, the intelligent and stupid, diligent and idle, have been swept along on a current of increased output that, in the usual case, owed nothing whatever to their efforts.
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In the affluent society, no useful distinction can be made between luxuries and necessities.
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If all else fails immortality can always be assured by adequate error.
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There is little that can be said about most economic goods. A toothbrush does little but clean teeth. Aspirin does little but dull pain. Alcohol is important mostly for making people more or less drunk ... There being so little to be said, much is to be invented.
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The inborn instability of capitalism has been part of the history of the system for several hundred years.
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The line dividing the state from what is called private enterprise, orat least fromthehighlyorganized part of it, is a traditional fiction.
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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.
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Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth.
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The first goal of the technostructure is its own security.
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There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.
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All successful revolutions are the kicking in of a rotten door. The violence of revolutions is the violence of men who charge into a vacuum.
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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.
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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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Financial operations do not lend themselves to innovation. What is recurrently so described and celebrated is, without exception, a small variation on an established design . . . The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.
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When you see reference to a new paradigm you should always, under all circumstances, take cover.
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When people are least sure, they are often most dogmatic.
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War remains the decisive human failure.
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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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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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