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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
People
Expression
Persuade
Doubt
Expressions
Sound
Crash
Times
Voices
Dispiriting
Voice
Market
Tolerably
May
Confidence
Muted
Hard
Asked
Recessions
Always
Months
Frequent
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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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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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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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Unemployment is rarely considered desirable except by those who have not experienced it.
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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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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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There's no question that in my lifetime, the contrast between what I called private affluence and public squalor has become very much greater.
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I never enjoyed writing a book more indeed, it is the only one I remember in no sense as a labor but as a joy.
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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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The conspicuously wealthy turn up urging the character building values of the privation of the poor.
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All crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.
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No ethic is as ethical as the work ethic.
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American university presidents are a nervous breed I have never thought well of them as a class.
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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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At best, in such depression times, monetary policy is a feeble reed on which to lean.
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You will find that [the] State [Department] is the kind of organisation which, though it does big things badly, does small things badly too.
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The family which takes it mauve and cerise, air conditioned, power-steered, and power braked automobile out for a tour passes through cities that are badly paved, made hideous by litter, blighted buildings, billboards, and posts for wires that should long since have been put underground.
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When people are least sure, they are often most dogmatic.
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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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Why is anything intrinsically so valueless so obviously desirable?
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