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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
Guides
Financial
Poor
Future
Often
Foresight
Guide
Experts
More quotes by John Kenneth Galbraith
To see economic policy as a problem of choice between rival ideologies is the greatest error of our time.
John Kenneth Galbraith
In the affluent society, no useful distinction can be made between luxuries and necessities.
John Kenneth Galbraith
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.
John Kenneth Galbraith
I am for a close global association in trade and financial matters, rather than the opposite possibility of excessive nationalism, as manifested in the two world wars.
John Kenneth Galbraith
Both we and the Soviets face the common threat of nuclear destruction and there is no likelihood that either capitalism or communism will survive a nuclear war.
John Kenneth Galbraith
One of my greatest pleasures in my writing has come from the thought that perhaps my work might annoy someone of comfortably pretentious position. Then comes the realization that such people rarely read.
John Kenneth Galbraith
I never enjoyed writing a book more indeed, it is the only one I remember in no sense as a labor but as a joy.
John Kenneth Galbraith
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.
John Kenneth Galbraith
No one was responsible for the great Wall Street crash. No one engineered the speculation that preceded it. Both were the product of free choice and decision of hundreds of thousands of individuals.
John Kenneth Galbraith
The family which takes it mauve and cerise, air conditioned, power-steered, and power braked automobile out for a tour passes through cities that are badly paved, made hideous by litter, blighted buildings, billboards, and posts for wires that should long since have been put underground.
John Kenneth Galbraith
All crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.
John Kenneth Galbraith
I think the role of the Federal Reserve is enormously exaggerated.
John Kenneth Galbraith
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
Genius is a rising stock market.
John Kenneth Galbraith
In public administration good sense would seem to require that public expectation be kept at the lowest possible level in order to minimize eventual disappointment.
John Kenneth Galbraith
I've been writing a book called The Economics of Innocent Fraud. I published part of it already in The Progressive (Free Market Fraud, January 1999). But I've been interrupted these last few months. It deals with all of the things we do, in an innocent way, to cover up the truth.
John Kenneth Galbraith
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.
John Kenneth Galbraith
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.
John Kenneth Galbraith
You will find that [the] State [Department] is the kind of organisation which, though it does big things badly, does small things badly too.
John Kenneth Galbraith
It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.
John Kenneth Galbraith
