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No one was responsible for the great Wall Street crash. No one engineered the speculation that preceded it. Both were the product of free choice and decision of hundreds of thousands of individuals.
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
Wall
Thousands
Decision
Individuals
Choices
Product
Free
Street
Engineered
Individual
Responsible
Preceded
Great
Products
Speculation
Choice
Crash
Streets
Hundreds
More quotes by 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
Pundits forecast not because they know, but because they are asked.
John Kenneth Galbraith
Power is as power does.
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Conscience is better served by a myth.
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If you're rich you can buy books. If you're poor, you need a library.
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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
I accept the global complex and global trade more than do some of my liberal colleagues because I consider this a wise alternative to national tension and conflict.
John Kenneth Galbraith
We all agree that pessimism is a mark of superior intellect.
John Kenneth Galbraith
Unemployment is rarely considered desirable except by those who have not experienced it.
John Kenneth Galbraith
Power is not something that can be assumed or discarded at will like underwear.
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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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There is little that can be said about most economic goods. A toothbrush does little but clean teeth. Aspirin does little but dull pain. Alcohol is important mostly for making people more or less drunk ... There being so little to be said, much is to be invented.
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The first goal of the technostructure is its own security.
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I predict, not because I know, but because I'm asked.
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Increasingly in recent times we have come first to identify the remedy that is most agreeable, most convenient, most in accord with major pecuniary or political interest, the one that reflects our available faculty for action then we move from the remedy so available or desired back to a cause to which that remedy is relevant.
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It was Herbert Spencer, not Charles Darwin, who coined the phrase Survival of the Fittest.
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In the affluent society, no useful distinction can be made between luxuries and necessities.
John Kenneth Galbraith
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
The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.
John Kenneth Galbraith
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
