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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
Times
Voices
Dispiriting
Voice
Market
Tolerably
May
Confidence
Muted
Hard
Asked
Recessions
Always
Months
Frequent
People
Expression
Persuade
Doubt
Expressions
Sound
Crash
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For the sake of The Progressive, I will say that [Robert] La Follette was relevant, but he was the last.
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The foresight of financial experts was, as so often, a poor guide to the future.
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If you're rich you can buy books. If you're poor, you need a library.
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If people are hungry, ill-clad, unsheltered or diseased, nothing is so important as to remedy their condition.
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In public administration good sense would seem to require that public expectation be kept at the lowest possible level in order to minimize eventual disappointment.
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Liberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.
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This is a world inhabited not by people who have to be persuaded to believe but by people who want an excuse to believe.
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The line dividing the state from what is called private enterprise, orat least fromthehighlyorganized part of it, is a traditional fiction.
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The happiest time of anyone's life is just after the first divorce.
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Economic stimulation that works through the increased outlays to the affluent has, inevitably, an aspect of soundness and sanity that is lacking in expenditure on behalf of the undeserving poor.
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The enemy of the conventional wisdom is not ideas but the march of events.
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There are a significant number of learned men and women who hold that any successful effort to make ideas lively, intelligible and interesting is a manifestation of deficient scholarship. This is the fortress behind which the minimally coherent regularly find refuge.
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People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.
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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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Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.
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In the usual (though certainly not in every) public decision on economic policy, the choice is between courses that are almost equally good or equally bad. It is the narrowest decisions that are most ardently debated.
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There is wonder and a certain wicked pleasure in these giddy ascents and terrible falls, especially as they happen to other people.
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There is a common tendency to ignore the poor or to develop some rationalisation for the good fortune of the fortunate.
John Kenneth Galbraith
