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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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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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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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We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had much.
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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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In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand the spiral operates when there is too much and also,unfortunately, when there is just enough.
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To add to the technostructure is to increase its power in the enterprise.
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Speeches in our culture are the vacuum that fills a vacuum.
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Those days [of the Vietnam War] you couldn't get on a bus going to the South without expecting a riot over something or the other. All of that has disappeared thanks to Lyndon Johnson.
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Technology means the systematic application of scientific or other organized knowledge to practical tasks.
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Very important functions can be performed very wastefully and often are.
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Pundits forecast not because they know, but because they are asked.
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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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Ideas do not respect national frontiers, and this is especially so where language and other traditions are in common.
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Only in very recent times has the average man been a source of savings.
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Originality is something that is easily exaggerated, especially by authors contemplating their own work.
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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.
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I accept the global complex and global trade more than do some of my liberal colleagues because I consider this a wise alternative to national tension and conflict.
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