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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
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John K. Galbraith
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Ardently
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More quotes by John Kenneth Galbraith
Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.
John Kenneth Galbraith
Economists are generally negligent of their heroes.
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Why is anything intrinsically so valueless so obviously desirable?
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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.
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[Franklin Delano] Roosevelt was the central world figure in the two great disasters of this century - the Great Depression and World War II. By contrast, JFK came in relatively peaceful, agreeable times.
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It takes some skill to spoil a breakfast - even the English can't do it.
John Kenneth Galbraith
It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.
John Kenneth Galbraith
People who are in a fortunate position always attribute virtue to what makes them so happy.
John Kenneth Galbraith
In the affluent society, no useful distinction can be made between luxuries and necessities.
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I've become accustomed to supporting politicians who are more conservative than I am. This is not entirely a surprise.
John Kenneth Galbraith
In 1736, Franklin's Pennsylvania Gazette printed an apology for its irregular appearence because its printer was with the Press, labouring for the publick Good, to make Money more plentiful. The press was busy printing money.
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I think the role of the Federal Reserve is enormously exaggerated.
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In economics it is a far, far wiser thing to be right than to be consistent
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Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.
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This is a world inhabited not by people who have to be persuaded to believe but by people who want an excuse to believe.
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Emancipation of belief is the most formidable of the tasks of reform and the one on which all else depends.
John Kenneth Galbraith
Oligopoly is an imperfect monopoly. Like the despotism of the Dual Monarchy, it is saved only by its incompetence.
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You roll back the stones, and you find slithering things. That is the world of Richard Nixon.
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Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth.
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A drastic reduction in weapons competition following a general release from the commitment to the Cold War would be sharply in conflict with the needs of the industrial system.
John Kenneth Galbraith