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At best, in such depression times, monetary policy is a feeble reed on which to lean.
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
Feeble
Monetary
Lean
Depression
Policy
Times
Best
Reed
Reeds
More quotes by John Kenneth Galbraith
The only function of economic forecasting is to make astrology look respectable.
John Kenneth Galbraith
Who is king in the world of the blind when there isn't even a one eyed man?
John Kenneth Galbraith
No grant of feudal privilege has ever equaled, for effortless return, that of the grandparent who bought and endowed his descendants with a thousand shares of General Motors or General Electric.
John Kenneth Galbraith
The inborn instability of capitalism has been part of the history of the system for several hundred years.
John Kenneth Galbraith
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
Talk of revolution is one of avoiding reality.
John Kenneth Galbraith
Why is anything intrinsically so valueless so obviously desirable?
John Kenneth Galbraith
This is a world inhabited not by people who have to be persuaded to believe but by people who want an excuse to believe.
John Kenneth Galbraith
Complexity and obscurity have professional value - they are the academic equivalents of apprenticeship rules in the building trades. They exclude the outsiders, keep down the competition, preserve the image of a privileged or priestly class. The man who makes things clear is a scab. He is criticized less for his clarity than for his treachery.
John Kenneth Galbraith
Things that come from the private sector are in abundant supply things that depend on the public sector are widely a problem. We're a world, as I said in The Affluent Society, of filthy streets and clean houses, poor schools and expensive television.
John Kenneth Galbraith
A wrong decision isn't forever it can always be reversed. The losses from a delayed decision are forever they can never be retrieved.
John Kenneth Galbraith
There are days when the result is so bad that no fewer than five revisions are required. In contrast, when I'm greatly inspired, only four revisions are needed.
John Kenneth Galbraith
The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled.
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
I react to what is necessary. I would like to eschew any formula.
John Kenneth Galbraith
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
The greater the wealth the thicker will be the dirt.
John Kenneth Galbraith
We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had much.
John Kenneth Galbraith
I was brought up in southwestern Ontario where we were taught that Canadian patriotism should not withstand anything more than a five-dollar-a-month wage differential. Anything more than that and you went to Detroit.
John Kenneth Galbraith
A good rule of conversation is never answer a foolish question.
John Kenneth Galbraith
