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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
Every
Reserves
Federal
Investing
Believed
Discriminating
Aspect
Approached
Taught
Reserve
Almost
Disregard
History
Commonly
More quotes by John Kenneth Galbraith
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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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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The spirit should never grow old.
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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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Economics exists to make astrology look respectable.
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Private enterprise did not get us atomic energy.
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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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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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In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd.
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If you're rich you can buy books. If you're poor, you need a library.
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The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
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Economists are economical, among other things, of ideas most make those of their graduate days do for a lifetime.
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In the early days of the crash it was widely believed that Jesse L. Livermore, a Bostonian with a large and unquestionably exaggerated reputation for bear operations, leading a syndicate that was driving the market down.
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The family which takes it mauve and cerise, air conditioned, power-steered, and power braked automobile out for a tour passes through cities that are badly paved, made hideous by litter, blighted buildings, billboards, and posts for wires that should long since have been put underground.
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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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In recent times no problem has been more puzzling to thoughtful people than why, in a troubled world, we make such poor use of our affluence.
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The privileged have regularly invited their own destruction with their greed.
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We live surrounded by a systematic appeal to a dream world which all mature, scientific reality would reject. We, quite literally, advertise our commitment to immaturity, mendacity and profound gullibility. It is as the hallmark of the culture. And it is justified as being economically indispensable.
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Nothing so weakens government as persistent inflation.
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No one was responsible for the great Wall Street crash. No one engineered the speculation that preceded it. Both were the product of free choice and decision of hundreds of thousands of individuals.
John Kenneth Galbraith
