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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
Commonly
History
Reserves
Every
Federal
Investing
Discriminating
Believed
Approached
Aspect
Reserve
Taught
Disregard
Almost
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Where humor is concerned there are no standards - no one can say what is good or bad, although you can be sure that everyone will.
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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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At best, in such depression times, monetary policy is a feeble reed on which to lean.
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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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Faced with having to change our views or prove that there is no need to do so, most of us immediately get busy on the proof.
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Even the word depression itself was the terminological product of an effort to soften the connotation of deep trouble. In the last century, the term crisis was normally employed. With time, however, this acquired the connotation of the misfortune it described.
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More die in the United States of too much food than of too little.
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Those days [of the Vietnam War] you couldn't get on a bus going to the South without expecting a riot over something or the other. All of that has disappeared thanks to Lyndon Johnson.
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The myth that holds that the great corporation is the puppet of the market, the powerless servant of the consumer, is, in fact one of the devices by which its power is perpetuated.
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Both we and the Soviets face the common threat of nuclear destruction and there is no likelihood that either capitalism or communism will survive a nuclear war.
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I am for a close global association in trade and financial matters, rather than the opposite possibility of excessive nationalism, as manifested in the two world wars.
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There are times in politics when you must be on the right side and lose.
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All crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.
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It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.
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Of all classes the rich are the most noticed and the least studied.
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There is wonder and a certain wicked pleasure in these giddy ascents and terrible falls, especially as they happen to other people.
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All, the intelligent and stupid, diligent and idle, have been swept along on a current of increased output that, in the usual case, owed nothing whatever to their efforts.
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I do the best with what exists.
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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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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.
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