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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
Obey
Economics
Laws
Demand
Activity
Economic
Law
Agriculture
Doe
Supply
More quotes by John Kenneth Galbraith
We all agree that pessimism is a mark of superior intellect.
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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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In economics it is a far, far wiser thing to be right than to be consistent
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Commencement oratory must eschew anything that smacks of partisan politics, political preference, sex, religion or unduly firm opinion. Nonetheless, there must be a speech: Speeches in our culture are the vacuum that fills a vacuum.
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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.
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The foresight of financial experts was, as so often, a poor guide to the future.
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Emancipation of belief is the most formidable of the tasks of reform and the one on which all else depends.
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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.
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Wealth is not without its advantages and the case to the contrary, although it has often been made, has never proved widely persuasive.
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The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
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No ethic is as ethical as the work ethic.
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No society ever seems to have succumbed to boredom. Man has developed an obvious capacity for surviving the pompous reiteration of the commonplace.
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Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
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I predict, not because I know, but because I'm asked.
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In the affluent society, no useful distinction can be made between luxuries and necessities.
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The power of the corporate bureaucracy - the power of technostructure (a term that did not take off) - is something to which I still adhere.
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In all life one should comfort the afflicted, but verily, also, one should afflict the comfortable, and especially when they are comfortably, contentedly, even happily wrong.
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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.
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Unemployment is rarely considered desirable except by those who have not experienced it.
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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
