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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
Taught
Reserve
Almost
Disregard
History
Commonly
Every
Reserves
Federal
Investing
Believed
Discriminating
Aspect
Approached
More quotes by 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.
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Nothing is more portable than rich people and their money
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The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled.
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Men will look back in amusement at the pretence that once caused people to refer to General Dynamics and North American Aviation and AT&T as private business.
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In the affluent society, no useful distinction can be made between luxuries and necessities.
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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.
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The spirit should never grow old.
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Economists are generally negligent of their heroes.
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Of all classes the rich are the most noticed and the least studied.
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If people are hungry, ill-clad, unsheltered or diseased, nothing is so important as to remedy their condition.
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In dealing with Mr. Nixon, it is not easy to be unfair. He invites and justifies all available criticism.
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We all agree that pessimism is a mark of superior intellect.
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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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The first goal of the technostructure is its own security.
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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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[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.
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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.
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All successful revolutions are the kicking in of a rotten door. The violence of revolutions is the violence of men who charge into a vacuum.
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If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to trickle down economics).
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A good rule of conversation is never answer a foolish question.
John Kenneth Galbraith
