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If it is dangerous to suppose that government is always right, it will sooner or later be awkward for public administration if most people suppose that it is always wrong.
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
People
Administration
Later
Dangerous
Public
Wrong
Government
Awkward
Right
Sooner
Always
Suppose
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In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd.
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Economics is not an exact science.
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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.
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I've become accustomed to supporting politicians who are more conservative than I am. This is not entirely a surprise.
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To see economic policy as a problem of choice between rival ideologies is the greatest error of our time.
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The greater the wealth the thicker will be the dirt.
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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. . .
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When people are least sure, they are often most dogmatic.
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It was not hard to persuade people that the market was sound as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.
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Technology means the systematic application of scientific or other organized knowledge to practical tasks.
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The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
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We all agree that pessimism is a mark of superior intellect.
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However, it is safe to say that at the peak in 1929 the number of active speculators was less - and probably was much less - than a million.
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In the conventional wisdom of conservatives, the modern search for security is regularly billed as the greatest single threat to economic progress.
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I predict, not because I know, but because I'm asked.
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Economic stimulation that works through the increased outlays to the affluent has, inevitably, an aspect of soundness and sanity that is lacking in expenditure on behalf of the undeserving poor.
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There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.
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In all life one should comfort the afflicted, but verily, also, one should afflict the comfortable, and especially when they are comfortably, contentedly, even happily wrong.
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Private enterprise did not get us atomic energy.
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