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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
Financial
Poor
Future
Often
Foresight
Guide
Experts
Guides
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The power of the corporate bureaucracy - the power of technostructure (a term that did not take off) - is something to which I still adhere.
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Conscience is better served by a myth.
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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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Only in very recent times has the average man been a source of savings.
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Happiness does not require an expanding economy
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A wrong decision isn't forever it can always be reversed. The losses from a delayed decision are forever they can never be retrieved.
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There is a common tendency to ignore the poor or to develop some rationalisation for the good fortune of the fortunate.
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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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Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.
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American university presidents are a nervous breed I have never thought well of them as a class.
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In economics, the majority is always wrong.
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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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If you get a reputation for being honest, you have 95 percent of the competition already beat.
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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.
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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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Preservationists are the only people in the world who are invariably confirmed in their wisdom after the fact.
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It takes a certain brashness to attack the accepted economic legendsbut noneat all toperpetuatethem. So theyare perpetuated.
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