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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
Delayed
Losses
Loss
Decision
Forever
Wrong
Always
Retrieved
Never
Reversed
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The spirit should never grow old.
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The modern corporation must manufacture not only goods but the desire for the goods it manufactures.
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The happiest time of anyone's life is just after the first divorce.
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It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.
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I've long believed alas, that in highly organized industrial societies, capitalist or socialist, the stronger tendency is to converge - that if steel or automobiles are wanted and must be made on a large scale, the process will stamp its imprint on the society, whether that me be Magnitogorsk or Gary, Indiana.
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I react to what is necessary. I would like to eschew any formula.
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To see economic policy as a problem of choice between rival ideologies is the greatest error of our time.
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In the affluent society, no useful distinction can be made between luxuries and necessities.
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It was Herbert Spencer, not Charles Darwin, who coined the phrase Survival of the Fittest.
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I was brought up in southwestern Ontario where we were taught that Canadian patriotism should not withstand anything more than a five-dollar-a-month wage differential. Anything more than that and you went to Detroit.
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The seminar in economic theory conducted by Hayek at the L.S.E. in the 1930s was attended, it came to seem, by all of the economists of my generation - Nicky Kaldor , Thomas Balogh, L. K. Jah, Paul Rosenstein-Rodan, the list could be indefinitely extended. The urge to participate (and correct Hayek) was ruthlessly competitive.
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The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
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In any great organization it is far, far safer to be wrong with the majority than to be right alone.
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The greater the wealth the thicker will be the dirt.
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When people are least sure, they are often most dogmatic.
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I've become accustomed to supporting politicians who are more conservative than I am. This is not entirely a surprise.
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We shall have a race of men who are strong on telemetry and space communications but who cannot read anything but a blueprint or write anything but a computer program.
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Authorship of any sort is a fantastic indulgence of the ego.
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The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
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The notion that you would initiate a new product without preparing the way by persuasion and advertising and salesmanship is fantastic. It's an integral part of the system.
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