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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
Lean
Depression
Policy
Times
Best
Reed
Reeds
Feeble
Monetary
More quotes by 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
Men will look back in amusement at the pretence that once caused people to refer to General Dynamics and North American Aviation and AT&T as private business.
John Kenneth Galbraith
The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
John Kenneth Galbraith
If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to trickle down economics).
John Kenneth Galbraith
Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
John Kenneth Galbraith
Money is a singular thing. It ranks with love as man's greatest source of joy. And with death as his greatest source of anxiety. Over all history it has oppressed nearly all people in one of two ways: either it has been abundant and very unreliable, or reliable and very scarce.
John Kenneth Galbraith
More die in the United States of too much food than of too little.
John Kenneth Galbraith
Financial operations do not lend themselves to innovation. What is recurrently so described and celebrated is, without exception, a small variation on an established design . . . The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.
John Kenneth Galbraith
Consumer wants can have bizarre, frivolous, or even immoral origins, and an admirable case can still be made for a society that seeks to satisfy them. But the case cannot stand if it is the process of satisfying wants that create the wants.
John Kenneth Galbraith
Decision has greater virtue and force if taken after there has been eloquent dissent.
John Kenneth Galbraith
If you get a reputation for being honest, you have 95 percent of the competition already beat.
John Kenneth Galbraith
Nothing is so admirable in politics as a short memory.
John Kenneth Galbraith
Because of his compassion Owen was always in trouble with his partners. They would have much preferred a tough, down-to-earth manager who would get a days work out of the little bastards.
John Kenneth Galbraith
Technology means the systematic application of scientific or other organized knowledge to practical tasks.
John Kenneth Galbraith
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.
John Kenneth Galbraith
Oligopoly is an imperfect monopoly. Like the despotism of the Dual Monarchy, it is saved only by its incompetence.
John Kenneth Galbraith
In economics it is a far, far wiser thing to be right than to be consistent
John Kenneth Galbraith
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.
John Kenneth Galbraith
Emancipation of belief is the most formidable of the tasks of reform and the one on which all else depends.
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
