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A point must be repeated: only the pathological weakness of the financial memory...allows us to believe that the modern experience of....debt...is in any way a new phenomenon.
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
Experience
Investing
Must
Debt
Believe
Financial
Way
Memory
Weakness
Pathological
Memories
Repeated
Modern
Phenomenon
Point
Allows
More quotes by John Kenneth Galbraith
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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American university presidents are a nervous breed I have never thought well of them as a class.
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The only function of economic forecasting is to make astrology look respectable.
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Unemployment is rarely considered desirable except by those who have not experienced it.
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There was something superficial in attributing anything so awful as the Great Depression to anything so insubstantial as speculation in common stocks.
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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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I do the best with what exists.
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One can relish the varied idiocy of human action during a panic to the full, for, while it is a time of great tragedy, nothing is being lost but money.
John Kenneth Galbraith
Speeches in our culture are the vacuum that fills a vacuum.
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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.
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A good rule of conversation is never answer a foolish question.
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If you get a reputation for being honest, you have 95 percent of the competition already beat.
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When people are least sure, they are often most dogmatic.
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In economics, the majority is always wrong.
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy that is, the search for a superior moral justification for selfishness.
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But there is merit even in the mentally retarded legislator. He asks the questions that everyone is afraid to ask for fear of seeming simple.
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There are a significant number of learned men and women who hold that any successful effort to make ideas lively, intelligible and interesting is a manifestation of deficient scholarship. This is the fortress behind which the minimally coherent regularly find refuge.
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Humor is richly rewarding to the person who employs it. It has some value in gaining and holding attention, but it has no persuasive value at all.
John Kenneth Galbraith
These are the days when men of all social disciplines and all political faiths seek the comfortable and the accepted when the man of controversy is looked upon as a disturbing influence when originality is taken to be a mark of instability and when, in minor modification of the original parable, the bland lead the bland.
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You will find that [the] State [Department] is the kind of organisation which, though it does big things badly, does small things badly too.
John Kenneth Galbraith
