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The present age of contentment will come to an end only when and if the adverse developments that it fosters challenge the sense of comfortable well-being
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
Challenges
Fosters
Age
Developments
Sense
Adverse
Ends
Contentment
Wells
Challenge
Come
Comfortable
Well
Development
Present
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Technology means the systematic application of scientific or other organized knowledge to practical tasks.
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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.
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All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.
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It was Herbert Spencer, not Charles Darwin, who coined the phrase Survival of the Fittest.
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All, the intelligent and stupid, diligent and idle, have been swept along on a current of increased output that, in the usual case, owed nothing whatever to their efforts.
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Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations.
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Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.
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We now in the United States have more security guards for the rich than we have police services for the poor districts. If you're looking for personal security, far better to move to the suburbs than to pay taxes in New York.
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Economics is not an exact science.
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Clearly the most unfortunate people are those who must do the same thing over and over again, every minute, or perhaps twenty to the minute. They deserve the shortest hours and the highest pay.
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No solution [to the problem of poverty] is so effective as providing income to the poor. Whether in the form of food, housing, health services, education or money, income is an excellent antidote for deprivation. No truth has spawned so much ingenious evasion.
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Power is not something that can be assumed or discarded at will like underwear.
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According to the experience of all but the most accomplished jugglers, it is easier to keep one ball in the air than many.
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Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
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I've become accustomed to supporting politicians who are more conservative than I am. This is not entirely a surprise.
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The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
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Of all the mysteries of the stock exchange there is none so impenetrable as why there should be a buyer for everyone who seeks to sell.
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We all agree that pessimism is a mark of superior intellect.
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But there is merit even in the mentally retarded legislator. He asks the questions that everyone is afraid to ask for fear of seeming simple.
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Economists are economical, among other things, of ideas most make those of their graduate days do for a lifetime.
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