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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
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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It would be foolish to suggest that government is a good custodian of aesthetic goals. But, there is no alternative to the state.
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The questions that are beyond the reach of economics-the beauty, dignity, pleasure and durability of life-may be inconvenient but they are important.
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There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.
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A [New Yorker ] is what it has always been. It combines those who pursue the truth with those who pursue the rewards of orthodoxy and those who pursue what is comfortable to the rich.
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It was not hard to persuade people that the market was sound as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.
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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 the conventional wisdom of conservatives, the modern search for security is regularly billed as the greatest single threat to economic progress.
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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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In any great organization it is far, far safer to be wrong with the majority than to be right alone.
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Any country that has Milton Friedman as an adviser has nothing to fear from a few million Arabs.
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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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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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In the affluent society, no useful distinction can be made between luxuries and necessities.
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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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A more important antidote to American democracy is American gerontocracy. The positions of eminence and authority in Congress are allotted in accordance with length of service, regardless of quality.
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All successful revolutions are the kicking in of a rotten door. The violence of revolutions is the violence of men who charge into a vacuum.
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Very important functions can be performed very wastefully and often are.
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The first goal of the technostructure is its own security.
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These are the days when men of all social disciplines and all political faiths seek the comfortable and the accepted when the man of controversy is looked upon as a disturbing influence when originality is taken to be a mark of instability and when, in minor modification of the original parable, the bland lead the bland.
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