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The size of General Motors is in the service not of monopoly or the economies of scale but of 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
Planning
Size
Service
Motors
General
Economies
Economy
Motor
Monopoly
Scale
Scales
More quotes by John Kenneth Galbraith
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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Franklin Delano Roosevelt and J.F Kennedy were Presidents in very different times.
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In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand the spiral operates when there is too much and also,unfortunately, when there is just enough.
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Only in very recent times has the average man been a source of savings.
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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
Economics exists to make astrology look respectable.
John Kenneth Galbraith
There is wonder and a certain wicked pleasure in these giddy ascents and terrible falls, especially as they happen to other people.
John Kenneth Galbraith
I think the role of the Federal Reserve is enormously exaggerated.
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.
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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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There are times in politics when you must be on the right side and lose.
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Only men of considerable vanity write books consistently therewith, I worried lest the world were exchanging an irreplaceable author for a more easily purchased diplomat.
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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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The foresight of financial experts was, as so often, a poor guide to the future.
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Who is king in the world of the blind when there isn't even a one eyed man?
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The myth that holds that the great corporation is the puppet of the market, the powerless servant of the consumer, is, in fact one of the devices by which its power is perpetuated.
John Kenneth Galbraith
Nothing is so admirable in politics as a short memory.
John Kenneth Galbraith
One man's consumption becomes his neighbor's wish.
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A more important antidote to American democracy is American gerontocracy. The positions of eminence and authority in Congress are allotted in accordance with length of service, regardless of quality.
John Kenneth Galbraith
The inborn instability of capitalism has been part of the history of the system for several hundred years.
John Kenneth Galbraith
