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Unemployment is rarely considered desirable except by those who have not experienced it.
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
Unemployment
Desirable
Experienced
Rarely
Considered
Except
Work
More quotes by John Kenneth Galbraith
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
At best, in such depression times, monetary policy is a feeble reed on which to lean.
John Kenneth Galbraith
Consumer wants can have bizarre, frivolous, or even immoral origins, and an admirable case can still be made for a society that seeks to satisfy them. But the case cannot stand if it is the process of satisfying wants that create the wants.
John Kenneth Galbraith
The seminar in economic theory conducted by Hayek at the L.S.E. in the 1930s was attended, it came to seem, by all of the economists of my generation - Nicky Kaldor , Thomas Balogh, L. K. Jah, Paul Rosenstein-Rodan, the list could be indefinitely extended. The urge to participate (and correct Hayek) was ruthlessly competitive.
John Kenneth Galbraith
Why is anything intrinsically so valueless so obviously desirable?
John Kenneth Galbraith
It takes a certain brashness to attack the accepted economic legendsbut noneat all toperpetuatethem. So theyare perpetuated.
John Kenneth Galbraith
Private enterprise did not get us atomic energy.
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.
John Kenneth Galbraith
Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
John Kenneth Galbraith
Ralph [ Nader] is an old friend of mine, and he does a useful job in displaying a position.
John Kenneth Galbraith
I predict, not because I know, but because I'm asked.
John Kenneth Galbraith
Men are, in fact, either sustained by organization or they sustain organization.
John Kenneth Galbraith
It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.
John Kenneth Galbraith
The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
John Kenneth Galbraith
The modern corporation must manufacture not only goods but the desire for the goods it manufactures.
John Kenneth Galbraith
One can relish the varied idiocy of human action during a panic to the full, for, while it is a time of great tragedy, nothing is being lost but money.
John Kenneth Galbraith
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.
John Kenneth Galbraith
THE GENIUS of the industrial system lies in its organized use of capital and technology. This is made possible, as we have duly seen, by extensively replacing the market with planning.
John Kenneth Galbraith
A very complicated mass of things influences the economy - the speculative effect, government policy, consumer borrowing and spending, the level of technical innovation (which I concede, although everyone emphasizes it too much), and much more - including, of course, the rate of inflation.
John Kenneth Galbraith
In public administration good sense would seem to require that public expectation be kept at the lowest possible level in order to minimize eventual disappointment.
John Kenneth Galbraith
