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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.
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
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John K. Galbraith
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A drastic reduction in weapons competition following a general release from the commitment to the Cold War would be sharply in conflict with the needs of the industrial system.
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Humor is richly rewarding to the person who employs it. It has some value in gaining and holding attention, but it has no persuasive value at all.
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We live surrounded by a systematic appeal to a dream world which all mature, scientific reality would reject. We, quite literally, advertise our commitment to immaturity, mendacity and profound gullibility. It is as the hallmark of the culture. And it is justified as being economically indispensable.
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Ideas do not respect national frontiers, and this is especially so where language and other traditions are in common.
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The privileged have regularly invited their own destruction with their greed.
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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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The more underdeveloped the country, the more overdeveloped the women.
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