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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
Monetary
Lean
Depression
Policy
Times
Reed
Best
Reeds
Feeble
More quotes by John Kenneth Galbraith
I think without a doubt, that what is called financial genius is merely a rising market.
John Kenneth Galbraith
The family which takes it mauve and cerise, air conditioned, power-steered, and power braked automobile out for a tour passes through cities that are badly paved, made hideous by litter, blighted buildings, billboards, and posts for wires that should long since have been put underground.
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The first goal of the technostructure is its own security.
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I react to what is necessary. I would like to eschew any formula.
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Emancipation of belief is the most formidable of the tasks of reform and the one on which all else depends.
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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
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof.
John Kenneth Galbraith
If you're rich you can buy books. If you're poor, you need a library.
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Unemployment is rarely considered desirable except by those who have not experienced it.
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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.
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One of my greatest pleasures in my writing has come from the thought that perhaps my work might annoy someone of comfortably pretentious position. Then comes the realization that such people rarely read.
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People who are in a fortunate position always attribute virtue to what makes them so happy.
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A more important antidote to American democracy is American gerontocracy. The positions of eminence and authority in Congress are allotted in accordance with length of service, regardless of quality.
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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.
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In the autumn of 1929 the mightiest of Americans were, for a brief time, revealed as human beings.
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Nothing is so admirable in politics as a short memory.
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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.
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What was needed was a policy that increased the supply of money available for use and then ensured its use. Then the state of trade would have to improve.
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Meetings are indispensable when you don't want to do anything.
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No ethic is as ethical as the work ethic.
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