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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
Law
Agriculture
Doe
Supply
Obey
Economics
Laws
Demand
Activity
Economic
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We shall have a race of men who are strong on telemetry and space communications but who cannot read anything but a blueprint or write anything but a computer program.
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It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.
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All writers know that on some golden mornings they are touched by the wand they are on intimate terms with poetry and cosmic truth. I have experienced these moments myself. Their lesson is simple: It's a total illusion. And the danger in the illusion is that you will wait for those moments.
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Genius is a rising stock market.
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I think without a doubt, that what is called financial genius is merely a rising market.
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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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Power is not something that can be assumed or discarded at will like underwear.
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According to the experience of all but the most accomplished jugglers, it is easier to keep one ball in the air than many.
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But there is merit even in the mentally retarded legislator. He asks the questions that everyone is afraid to ask for fear of seeming simple.
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The first goal of the technostructure is its own security.
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It is not the individual's right to buy that is being protected. Rather, it is the seller's right to manage the individual.
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No nice philosophical point has ever been so decisively resolved as this: that those who are not conceived do not miss the pleasure of consuming the goods they do not get born to enjoy.
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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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But it can be laid down as a rule that those who speak most of liberty are least inclined to use it.
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In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand the spiral operates when there is too much and also,unfortunately, when there is just enough.
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There are times in politics when you must be on the right side and lose.
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Only men of considerable vanity write books consistently therewith, I worried lest the world were exchanging an irreplaceable author for a more easily purchased diplomat.
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What was needed was a policy that increased the supply of money available for use and then ensured its use. Then the state of trade would have to improve.
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In 1736, Franklin's Pennsylvania Gazette printed an apology for its irregular appearence because its printer was with the Press, labouring for the publick Good, to make Money more plentiful. The press was busy printing money.
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A businessman who reads Business Week is lost to fame. One who reads Proust is marked for greatness.
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