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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.
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
May
Confidence
Muted
Hard
Asked
Recessions
Always
Months
Frequent
People
Expression
Persuade
Doubt
Expressions
Sound
Crash
Times
Voices
Dispiriting
Voice
Market
Tolerably
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People who are in a fortunate position always attribute virtue to what makes them so happy.
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I do the best with what exists.
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Nothing so denies a person liberty as the total absence of money.
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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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Very important functions can be performed very wastefully and often are.
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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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Few economic problems, if any, are difficult of solution. The difficulty, all but invariably, is in confronting them. We know what needs to be done for reasons of inertia, pecuniary interest, passion or ignorance, we do not wish to say so.
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When you see reference to a new paradigm you should always, under all circumstances, take cover.
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The experience of being disastrously wrong is salutary, no economist should be denied it, and not many 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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There's a certain part of the contented majority who love anybody who is worth a billion dollars.
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Originality is something that is easily exaggerated, especially by authors contemplating their own work.
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No grant of feudal privilege has ever equaled, for effortless return, that of the grandparent who bought and endowed his descendants with a thousand shares of General Motors or General Electric.
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At best, in such depression times, monetary policy is a feeble reed on which to lean.
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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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It takes a certain brashness to attack the accepted economic legendsbut noneat all toperpetuatethem. So theyare perpetuated.
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Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth.
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Nothing so weakens government as persistent inflation.
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