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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
Economics
Right
Thing
Wiser
Consistent
More quotes by John Kenneth Galbraith
If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to trickle down economics).
John Kenneth Galbraith
It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.
John Kenneth Galbraith
When people are least sure, they are often most dogmatic.
John Kenneth Galbraith
Financial operations do not lend themselves to innovation. What is recurrently so described and celebrated is, without exception, a small variation on an established design . . . The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.
John Kenneth Galbraith
Very important functions can be performed very wastefully and often are.
John Kenneth Galbraith
It takes a certain brashness to attack the accepted economic legendsbut noneat all toperpetuatethem. So theyare perpetuated.
John Kenneth Galbraith
I've long believed alas, that in highly organized industrial societies, capitalist or socialist, the stronger tendency is to converge - that if steel or automobiles are wanted and must be made on a large scale, the process will stamp its imprint on the society, whether that me be Magnitogorsk or Gary, Indiana.
John Kenneth Galbraith
This is a world inhabited not by people who have to be persuaded to believe but by people who want an excuse to believe.
John Kenneth Galbraith
Authorship of any sort is a fantastic indulgence of the ego.
John Kenneth Galbraith
Why is anything intrinsically so valueless so obviously desirable?
John Kenneth Galbraith
There are a significant number of learned men and women who hold that any successful effort to make ideas lively, intelligible and interesting is a manifestation of deficient scholarship. This is the fortress behind which the minimally coherent regularly find refuge.
John Kenneth Galbraith
Oligopoly is an imperfect monopoly. Like the despotism of the Dual Monarchy, it is saved only by its incompetence.
John Kenneth Galbraith
The power of the corporate bureaucracy - the power of technostructure (a term that did not take off) - is something to which I still adhere.
John Kenneth Galbraith
The enemy of the conventional wisdom is not ideas but the march of events.
John Kenneth Galbraith
The inborn instability of capitalism has been part of the history of the system for several hundred years.
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
Economists, on the whole, think well of what they do themselves and much less well of what their professional colleagues do.
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
Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.
John Kenneth Galbraith
One of the little-celebrated powers of Presidents (and other high government officials) is to listen to their critics with just enough sympathy to ensure their silence.
John Kenneth Galbraith
