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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
Part
Years
Inborn
Instability
Several
Capitalism
Hundred
System
History
More quotes by John Kenneth Galbraith
In the conventional wisdom of conservatives, the modern search for security is regularly billed as the greatest single threat to economic progress.
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In the United States all business not transacted over the telephone is accomplished in conjunction with alcohol or food, often under conditions of advanced intoxication. This is a fact of the utmost importance for the visitor of limited funds... for it means that the most expensive restaurants are, with rare exceptions, the worst.
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In all life one should comfort the afflicted, but verily, also, one should afflict the comfortable, and especially when they are comfortably, contentedly, even happily wrong.
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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.
John Kenneth Galbraith
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.
John Kenneth Galbraith
Ralph [ Nader] is an old friend of mine, and he does a useful job in displaying a position.
John Kenneth Galbraith
Power is not something that can be assumed or discarded at will like underwear.
John Kenneth Galbraith
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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War remains the decisive human failure.
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If it is dangerous to suppose that government is always right, it will sooner or later be awkward for public administration if most people suppose that it is always wrong.
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In the assumption that power belongs as a matter of course to capital, all economists are Marxians.
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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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The modern corporation must manufacture not only goods but the desire for the goods it manufactures.
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Private enterprise did not get us atomic energy.
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The myth that holds that the great corporation is the puppet of the market, the powerless servant of the consumer, is, in fact one of the devices by which its power is perpetuated.
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It is not the individual's right to buy that is being protected. Rather, it is the seller's right to manage the individual.
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Only in very recent times has the average man been a source of savings.
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I predict, not because I know, but because I'm asked.
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There was something superficial in attributing anything so awful as the Great Depression to anything so insubstantial as speculation in common stocks.
John Kenneth Galbraith
Economics is not an exact science.
John Kenneth Galbraith
