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A wrong decision isn't forever it can always be reversed. The losses from a delayed decision are forever they can never be retrieved.
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
Forever
Wrong
Always
Retrieved
Never
Reversed
Delayed
Losses
Loss
Decision
More quotes by John Kenneth Galbraith
We all agree that pessimism is a mark of superior intellect.
John Kenneth Galbraith
Get the process of negotiation away from the small specialized group that some people have called the nuclear theologians ... Only a few people can understand the nature of these weapons ... This kept the whole discussion to a very limited group of people who, in a way, had assumed responsibility for saying whether we should live or die.
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Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.
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Who is king in the world of the blind when there isn't even a one eyed man?
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Anyone who says he won't resign four times, will.
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Hermann Goering, Joachim von Ribbentrop, Albert Speer, Walther Frank, Julius Streicher and Robert Ley did pass under my inspectionand interrogation in 1945 but they only proved that National Socialism was a gangster interlude at a rather low order of mental capacity and with a surprisingly high incidence of alcoholism.
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Genius is a rising stock market.
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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.
John Kenneth Galbraith
Unemployment is rarely considered desirable except by those who have not experienced it.
John Kenneth Galbraith
Economists are economical, among other things, of ideas most make those of their graduate days do for a lifetime.
John Kenneth Galbraith
Writing is a long and lonesome business back of the problems in thought and composition hover always the awful questions: Is this the page that shows the empty shell? Is it here and now that they find me out?
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Pundits forecast not because they know, but because they are asked.
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I do the best with what exists.
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Speeches in our culture are the vacuum that fills a vacuum.
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Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.
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What was needed was a policy that increased the supply of money available for use and then ensured its use. Then the state of trade would have to improve.
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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.
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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.
John Kenneth Galbraith
There is a common tendency to ignore the poor or to develop some rationalisation for the good fortune of the fortunate.
John Kenneth Galbraith
THE GENIUS of the industrial system lies in its organized use of capital and technology. This is made possible, as we have duly seen, by extensively replacing the market with planning.
John Kenneth Galbraith
