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Agriculture is one economic activity that does not obey the laws of demand and supply.
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
Doe
Supply
Obey
Economics
Laws
Demand
Activity
Economic
Law
Agriculture
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The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.
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The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
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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.
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You roll back the stones, and you find slithering things. That is the world of Richard Nixon.
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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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The inborn instability of capitalism has been part of the history of the system for several hundred years.
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There's no question that in my lifetime, the contrast between what I called private affluence and public squalor has become very much greater.
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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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When you see reference to a new paradigm you should always, under all circumstances, take cover.
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In dealing with Mr. Nixon, it is not easy to be unfair. He invites and justifies all available criticism.
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Things that come from the private sector are in abundant supply things that depend on the public sector are widely a problem. We're a world, as I said in The Affluent Society, of filthy streets and clean houses, poor schools and expensive television.
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There are times in politics when you must be on the right side and lose.
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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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I was brought up in southwestern Ontario where we were taught that Canadian patriotism should not withstand anything more than a five-dollar-a-month wage differential. Anything more than that and you went to Detroit.
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Pundits forecast not because they know, but because they are asked.
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Economists, on the whole, think well of what they do themselves and much less well of what their professional colleagues do.
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American university presidents are a nervous breed I have never thought well of them as a class.
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Foreign policy is conducted for the convenience and enjoyment of people in Washington.
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