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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
Activity
Economic
Law
Agriculture
Doe
Supply
Obey
Economics
Laws
Demand
More quotes by John Kenneth Galbraith
Nothing so weakens government as persistent inflation.
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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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Meetings are a great trap. Soon you find yourself trying to get agreement and then the people who disagree come to think they have a right to be persuaded. However, they are indispensable when you don't want to do anything.
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All, the intelligent and stupid, diligent and idle, have been swept along on a current of increased output that, in the usual case, owed nothing whatever to their efforts.
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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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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.
John Kenneth Galbraith
You roll back the stones, and you find slithering things. That is the world of Richard Nixon.
John Kenneth Galbraith
Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth.
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The study of money, above all other fields in economics, is one in which complexity is used to disguise truth or to evade truth, not to reveal it. The process by which banks create money is so simple the mind is repelled.
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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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Speeches in our culture are the vacuum that fills a vacuum.
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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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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.
John Kenneth Galbraith
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 commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
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The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
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[Franklin Delano] Roosevelt was the central world figure in the two great disasters of this century - the Great Depression and World War II. By contrast, JFK came in relatively peaceful, agreeable times.
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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.
John Kenneth Galbraith
In economics it is a far, far wiser thing to be right than to be consistent
John Kenneth Galbraith
A very complicated mass of things influences the economy - the speculative effect, government policy, consumer borrowing and spending, the level of technical innovation (which I concede, although everyone emphasizes it too much), and much more - including, of course, the rate of inflation.
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