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The inborn instability of capitalism has been part of the history of the system for several hundred years.
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
System
History
Part
Years
Inborn
Instability
Several
Capitalism
Hundred
More quotes by John Kenneth Galbraith
The urge to consume is fathered by the value system which emphasizes the ability of the society to produce.
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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 would be foolish to suggest that government is a good custodian of aesthetic goals. But, there is no alternative to the state.
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It has been the acknowledged right of every Marxist scholar to read into Marx the particular meaning that he himself prefers and to treat all others with indignation.
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But it can be laid down as a rule that those who speak most of liberty are least inclined to use it.
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Private enterprise did not get us atomic energy.
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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.
John Kenneth Galbraith
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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Faced with having to change our views or prove that there is no need to do so, most of us immediately get busy on the proof.
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Anyone who says he won't resign four times, will.
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The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.
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Originality is something that is easily exaggerated, especially by authors contemplating their own work.
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All successful revolutions are the kicking in of a rotten door. The violence of revolutions is the violence of men who charge into a vacuum.
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Both we and the Soviets face the common threat of nuclear destruction and there is no likelihood that either capitalism or communism will survive a nuclear war.
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I am for a close global association in trade and financial matters, rather than the opposite possibility of excessive nationalism, as manifested in the two world wars.
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It was Herbert Spencer, not Charles Darwin, who coined the phrase Survival of the Fittest.
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Only men of considerable vanity write books consistently therewith, I worried lest the world were exchanging an irreplaceable author for a more easily purchased diplomat.
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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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At best, in such depression times, monetary policy is a feeble reed on which to lean.
John Kenneth Galbraith
Of all the mysteries of the stock exchange there is none so impenetrable as why there should be a buyer for everyone who seeks to sell.
John Kenneth Galbraith
