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Pundits forecast not because they know, but because they are asked.
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
Pundits
Investing
Asked
Forecast
Forecasts
More quotes by John Kenneth Galbraith
In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand the spiral operates when there is too much and also,unfortunately, when there is just enough.
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
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.
John Kenneth Galbraith
The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.
John Kenneth Galbraith
To see economic policy as a problem of choice between rival ideologies is the greatest error of our time.
John Kenneth Galbraith
There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.
John Kenneth Galbraith
Faced with having to change our views or prove that there is no need to do so, most of us immediately get busy on the proof.
John Kenneth Galbraith
Meetings are indispensable when you don't want to do anything.
John Kenneth Galbraith
Ideas are inherently conservative. They yield not to the attack of other ideas but to the massive onslaught of circumstance with which they cannot contend.
John Kenneth Galbraith
Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.
John Kenneth Galbraith
The modern corporation must manufacture not only goods but the desire for the goods it manufactures.
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
In the United States all business not transacted over the telephone is accomplished in conjunction with alcohol or food, often under conditions of advanced intoxication. This is a fact of the utmost importance for the visitor of limited funds... for it means that the most expensive restaurants are, with rare exceptions, the worst.
John Kenneth Galbraith
The seminar in economic theory conducted by Hayek at the L.S.E. in the 1930s was attended, it came to seem, by all of the economists of my generation - Nicky Kaldor , Thomas Balogh, L. K. Jah, Paul Rosenstein-Rodan, the list could be indefinitely extended. The urge to participate (and correct Hayek) was ruthlessly competitive.
John Kenneth Galbraith
In the conventional wisdom of conservatives, the modern search for security is regularly billed as the greatest single threat to economic progress.
John Kenneth Galbraith
We talk of the enormous virtues of work, but it turns out that that is mostly for the poor. If you're rich enough or if you're a college professor, the virtue lies in leisure and the use you make of your leisure time.
John Kenneth Galbraith
People who are in a fortunate position always attribute virtue to what makes them so happy.
John Kenneth Galbraith
I've become accustomed to supporting politicians who are more conservative than I am. This is not entirely a surprise.
John Kenneth Galbraith
Commencement oratory must eschew anything that smacks of partisan politics, political preference, sex, religion or unduly firm opinion. Nonetheless, there must be a speech: Speeches in our culture are the vacuum that fills a vacuum.
John Kenneth Galbraith
Only in very recent times has the average man been a source of savings.
John Kenneth Galbraith
