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Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.
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
Investing
Believed
Discriminating
Aspect
Approached
Taught
Reserve
Almost
Disregard
History
Commonly
Every
Reserves
Federal
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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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Private enterprise did not get us atomic energy.
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Power is as power does.
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Superficial observers have long criticized the United States for making a fetish of youth. This is unfair. Uniquely among modern organs of public and private administration, its national legislature rewards senility.
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Writing is a long and lonesome business back of the problems in thought and composition hover always the awful questions: Is this the page that shows the empty shell? Is it here and now that they find me out?
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More die in the United States of too much food than of too little.
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In the assumption that power belongs as a matter of course to capital, all economists are Marxians.
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The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
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People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.
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This is a world inhabited not by people who have to be persuaded to believe but by people who want an excuse to believe.
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Meetings are a great trap. Soon you find yourself trying to get agreement and then the people who disagree come to think they have a right to be persuaded. However, they are indispensable when you don't want to do anything.
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The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.
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One of the little-celebrated powers of Presidents (and other high government officials) is to listen to their critics with just enough sympathy to ensure their silence.
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Clearly the most unfortunate people are those who must do the same thing over and over again, every minute, or perhaps twenty to the minute. They deserve the shortest hours and the highest pay.
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Who is king in the world of the blind when there isn't even a one eyed man?
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