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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.
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
Almost
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Choices
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Though
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Every
Policy
Narrowest
Good
Economic
Ardently
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Debated
Courses
Usual
Public
Equally
More quotes by John Kenneth Galbraith
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 inborn instability of capitalism has been part of the history of the system for several hundred years.
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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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The urge to consume is fathered by the value system which emphasizes the ability of the society to produce.
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There are days when the result is so bad that no fewer than five revisions are required. In contrast, when I'm greatly inspired, only four revisions are needed.
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Faced with the choice between changing one's mind and proving that there is no need to do so, almost everyone gets busy on the proof.
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There is something wonderful in seeing a wrong-headed majority assailed by truth.
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When you see reference to a new paradigm you should always, under all circumstances, take cover.
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There's a certain part of the contented majority who love anybody who is worth a billion dollars.
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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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I think the role of the Federal Reserve is enormously exaggerated.
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Because of his compassion Owen was always in trouble with his partners. They would have much preferred a tough, down-to-earth manager who would get a days work out of the little bastards.
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The commencement speech is not, I think, a wholly satisfactory manifestation of our culture.
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More die in the United States of too much food than of too little.
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At best, in such depression times, monetary policy is a feeble reed on which to lean.
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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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It takes some skill to spoil a breakfast - even the English can't do it.
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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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I think without a doubt, that what is called financial genius is merely a rising market.
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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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