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The foresight of financial experts was, as so often, a poor guide to the future.
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
Future
Often
Foresight
Guide
Experts
Guides
Financial
Poor
More quotes by John Kenneth Galbraith
The inborn instability of capitalism has been part of the history of the system for several hundred years.
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There is something wonderful in seeing a wrong-headed majority assailed by truth.
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Conscience is better served by a myth.
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Very important functions can be performed very wastefully and often are.
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The first goal of the technostructure is its own security.
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The only function of economic forecasting is to make astrology look respectable.
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Faced with having to change our views or prove that there is no need to do so, most of us immediately get busy on the proof.
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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.
John Kenneth Galbraith
Meetings are a great trap. Soon you find yourself trying to get agreement and then the people who disagree come to think they have a right to be persuaded. However, they are indispensable when you don't want to do anything.
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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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If you get a reputation for being honest, you have 95 percent of the competition already beat.
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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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In 1736, Franklin's Pennsylvania Gazette printed an apology for its irregular appearence because its printer was with the Press, labouring for the publick Good, to make Money more plentiful. The press was busy printing money.
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Happiness does not require an expanding economy
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People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.
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Nothing so weakens government as persistent inflation.
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Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations.
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There's no question that in my lifetime, the contrast between what I called private affluence and public squalor has become very much greater.
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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
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.
John Kenneth Galbraith
