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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
Economic
Law
Agriculture
Doe
Supply
Obey
Economics
Laws
Demand
Activity
More quotes by John Kenneth Galbraith
Increasingly in recent times we have come first to identify the remedy that is most agreeable, most convenient, most in accord with major pecuniary or political interest, the one that reflects our available faculty for action then we move from the remedy so available or desired back to a cause to which that remedy is relevant.
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Inventions that are not made, like babies that are not born, are rarely missed.
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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 modern corporation must manufacture not only goods but the desire for the goods it manufactures.
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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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Nothing so denies a person liberty as the total absence of money.
John Kenneth Galbraith
The privileged have regularly invited their own destruction with their greed.
John Kenneth Galbraith
Anyone who says he won't resign four times, will.
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It takes a certain brashness to attack the accepted economic legendsbut noneat all toperpetuatethem. So theyare perpetuated.
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At best, in such depression times, monetary policy is a feeble reed on which to lean.
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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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Even the word depression itself was the terminological product of an effort to soften the connotation of deep trouble. In the last century, the term crisis was normally employed. With time, however, this acquired the connotation of the misfortune it described.
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All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.
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In the usual (though certainly not in every) public decision on economic policy, the choice is between courses that are almost equally good or equally bad. It is the narrowest decisions that are most ardently debated.
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I've become accustomed to supporting politicians who are more conservative than I am. This is not entirely a surprise.
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Conscience is better served by a myth.
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Because of his compassion Owen was always in trouble with his partners. They would have much preferred a tough, down-to-earth manager who would get a days work out of the little bastards.
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The present age of contentment will come to an end only when and if the adverse developments that it fosters challenge the sense of comfortable well-being
John Kenneth Galbraith
There is wonder and a certain wicked pleasure in these giddy ascents and terrible falls, especially as they happen to other people.
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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.
John Kenneth Galbraith
