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In the early days of the crash it was widely believed that Jesse L. Livermore, a Bostonian with a large and unquestionably exaggerated reputation for bear operations, leading a syndicate that was driving the market down.
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
Bear
Exaggerated
Market
Widely
Bears
Crash
Large
Operations
Early
Leading
Days
Reputation
Syndicate
Believed
Unquestionably
Driving
Jesse
More quotes by John Kenneth Galbraith
A good rule of conversation is never answer a foolish question.
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
These are the days when men of all social disciplines and all political faiths seek the comfortable and the accepted when the man of controversy is looked upon as a disturbing influence when originality is taken to be a mark of instability and when, in minor modification of the original parable, the bland lead the bland.
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One man's consumption becomes his neighbor's wish.
John Kenneth Galbraith
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.
John Kenneth Galbraith
Ideas are inherently conservative. They yield not to the attack of other ideas but to the massive onslaught of circumstance with which they cannot contend.
John Kenneth Galbraith
Because of his compassion Owen was always in trouble with his partners. They would have much preferred a tough, down-to-earth manager who would get a days work out of the little bastards.
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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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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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Agriculture is one economic activity that does not obey the laws of demand and supply.
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If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to trickle down economics).
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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.
John Kenneth Galbraith
It would be foolish to suggest that government is a good custodian of aesthetic goals. But, there is no alternative to the state.
John Kenneth Galbraith
Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.
John Kenneth Galbraith
One of the little-celebrated powers of Presidents (and other high government officials) is to listen to their critics with just enough sympathy to ensure their silence.
John Kenneth Galbraith
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
Happiness does not require an expanding economy
John Kenneth Galbraith
Even the word depression itself was the terminological product of an effort to soften the connotation of deep trouble. In the last century, the term crisis was normally employed. With time, however, this acquired the connotation of the misfortune it described.
John Kenneth Galbraith
It has been the acknowledged right of every Marxist scholar to read into Marx the particular meaning that he himself prefers and to treat all others with indignation.
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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. . .
John Kenneth Galbraith
