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Talk of revolution is one of avoiding reality.

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
Reality
Avoiding
Revolution
Talk

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All crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.
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Preservationists are the only people in the world who are invariably confirmed in their wisdom after the fact.
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I think the role of the Federal Reserve is enormously exaggerated.
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy that is, the search for a superior moral justification for selfishness.
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Inventions that are not made, like babies that are not born, are rarely missed.
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No society ever seems to have succumbed to boredom. Man has developed an obvious capacity for surviving the pompous reiteration of the commonplace.
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Meetings are a great trap. Soon you find yourself trying to get agreement and then the people who disagree come to think they have a right to be persuaded. However, they are indispensable when you don't want to do anything.
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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.
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The conspicuously wealthy turn up urging the character building values of the privation of the poor.
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No nice philosophical point has ever been so decisively resolved as this: that those who are not conceived do not miss the pleasure of consuming the goods they do not get born to enjoy.
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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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The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
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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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Of late I have searched diligently to discover the advantages of age, and there is, I have concluded, only one. It is that lovely women treat your approaches with understanding rather than with disdain.
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Foreign policy is conducted for the convenience and enjoyment of people in Washington.
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Any country that has Milton Friedman as an adviser has nothing to fear from a few million Arabs.
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At best, in such depression times, monetary policy is a feeble reed on which to lean.
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Agriculture is one economic activity that does not obey the laws of demand and supply.
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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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Ideas do not respect national frontiers, and this is especially so where language and other traditions are in common.
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