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In economics it is a far, far wiser thing to be right than to be consistent
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
Wiser
Consistent
Economics
Right
Thing
More quotes by John Kenneth Galbraith
If you get a reputation for being honest, you have 95 percent of the competition already beat.
John Kenneth Galbraith
The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
John Kenneth Galbraith
Ideas do not respect national frontiers, and this is especially so where language and other traditions are in common.
John Kenneth Galbraith
A wrong decision isn't forever it can always be reversed. The losses from a delayed decision are forever they can never be retrieved.
John Kenneth Galbraith
Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
John Kenneth Galbraith
Few economic problems, if any, are difficult of solution. The difficulty, all but invariably, is in confronting them. We know what needs to be done for reasons of inertia, pecuniary interest, passion or ignorance, we do not wish to say so.
John Kenneth Galbraith
We talk of the enormous virtues of work, but it turns out that that is mostly for the poor. If you're rich enough or if you're a college professor, the virtue lies in leisure and the use you make of your leisure time.
John Kenneth Galbraith
Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof.
John Kenneth Galbraith
The privileged have regularly invited their own destruction with their greed.
John Kenneth Galbraith
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.
John Kenneth Galbraith
Foreign policy is conducted for the convenience and enjoyment of people in Washington.
John Kenneth Galbraith
In economics, the majority is always wrong.
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.
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Inventions that are not made, like babies that are not born, are rarely missed.
John Kenneth Galbraith
There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.
John Kenneth Galbraith
It has been the acknowledged right of every Marxist scholar to read into Marx the particular meaning that he himself prefers and to treat all others with indignation.
John Kenneth Galbraith
It is not the individual's right to buy that is being protected. Rather, it is the seller's right to manage the individual.
John Kenneth Galbraith
Speeches in our culture are the vacuum that fills a vacuum.
John Kenneth Galbraith
The years of the Great Depression were a superb time for economists because people not knowing what could be done or what should be done would always assume that maybe an economist had the answer. If you were just a lawyer in Washington, you were nobody. But if you were an economist, you might have the answer.
John Kenneth Galbraith
A more important antidote to American democracy is American gerontocracy. The positions of eminence and authority in Congress are allotted in accordance with length of service, regardless of quality.
John Kenneth Galbraith
