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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
Pundits forecast not because they know, but because they are asked.
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I never enjoyed writing a book more indeed, it is the only one I remember in no sense as a labor but as a joy.
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Emancipation of belief is the most formidable of the tasks of reform and the one on which all else depends.
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I react to what is necessary. I would like to eschew any formula.
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All writers know that on some golden mornings they are touched by the wand they are on intimate terms with poetry and cosmic truth. I have experienced these moments myself. Their lesson is simple: It's a total illusion. And the danger in the illusion is that you will wait for those moments.
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Things that come from the private sector are in abundant supply things that depend on the public sector are widely a problem. We're a world, as I said in The Affluent Society, of filthy streets and clean houses, poor schools and expensive television.
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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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In any great organization it is far, far safer to be wrong with the majority than to be right alone.
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Foreign policy is conducted for the convenience and enjoyment of people in Washington.
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There is an enormous thrust in our time to have a simple answer. And that simple answer is that all depends on Alan Greenspan and the Federal Reserve. And Alan, who is an old acquaintance of mine, is a marvelous performer in the impression he gives of enormously great perception.
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The privileged have regularly invited their own destruction with their greed.
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Happiness does not require an expanding economy
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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.
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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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There are times in politics when you must be on the right side and lose.
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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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The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
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If all else fails immortality can always be assured by adequate error.
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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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In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd.
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