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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
No solution [to the problem of poverty] is so effective as providing income to the poor. Whether in the form of food, housing, health services, education or money, income is an excellent antidote for deprivation. No truth has spawned so much ingenious evasion.
John Kenneth Galbraith
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
The only function of economic forecasting is to make astrology look respectable.
John Kenneth Galbraith
The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.
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
Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy — what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.
John Kenneth Galbraith
We shall have a race of men who are strong on telemetry and space communications but who cannot read anything but a blueprint or write anything but a computer program.
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
[Franklin Delano] Roosevelt was the central world figure in the two great disasters of this century - the Great Depression and World War II. By contrast, JFK came in relatively peaceful, agreeable times.
John Kenneth Galbraith
The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.
John Kenneth Galbraith
Only in very recent times has the average man been a source of savings.
John Kenneth Galbraith
Pundits forecast not because they know, but because they are asked.
John Kenneth Galbraith
We all agree that pessimism is a mark of superior intellect.
John Kenneth Galbraith
The present age of contentment will come to an end only when and if the adverse developments that it fosters challenge the sense of comfortable well-being
John Kenneth Galbraith
In 1736, Franklin's Pennsylvania Gazette printed an apology for its irregular appearence because its printer was with the Press, labouring for the publick Good, to make Money more plentiful. The press was busy printing money.
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
There is a common tendency to ignore the poor or to develop some rationalisation for the good fortune of the fortunate.
John Kenneth Galbraith
There is wonder and a certain wicked pleasure in these giddy ascents and terrible falls, especially as they happen to other people.
John Kenneth Galbraith
I think the role of the Federal Reserve is enormously exaggerated.
John Kenneth Galbraith
Nothing so weakens government as persistent inflation.
John Kenneth Galbraith
