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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.
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
Possible
Organized
Lying
Planning
Use
Market
Made
Lies
Extensively
Genius
Duly
Technology
Replacing
System
Industrial
Seen
Capital
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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.
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Speeches in our culture are the vacuum that fills a vacuum.
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It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.
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Any country that has Milton Friedman as an adviser has nothing to fear from a few million Arabs.
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I think the role of the Federal Reserve is enormously exaggerated.
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It was not hard to persuade people that the market was sound as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.
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It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.
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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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Those days [of the Vietnam War] you couldn't get on a bus going to the South without expecting a riot over something or the other. All of that has disappeared thanks to Lyndon Johnson.
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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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Authorship of any sort is a fantastic indulgence of the ego.
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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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Inventions that are not made, like babies that are not born, are rarely missed.
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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.
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