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I think without a doubt, that what is called financial genius is merely a rising market.

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
Thinking
Market
Financial
Merely
Genius
Doubt
Called
Without
Think
Rising

More quotes by John Kenneth Galbraith

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These are the days when men of all social disciplines and all political faiths seek the comfortable and the accepted when the man of controversy is looked upon as a disturbing influence when originality is taken to be a mark of instability and when, in minor modification of the original parable, the bland lead the bland.
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When people are least sure, they are often most dogmatic.
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The more underdeveloped the country, the more overdeveloped the women.
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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 [New Yorker ] is what it has always been. It combines those who pursue the truth with those who pursue the rewards of orthodoxy and those who pursue what is comfortable to the rich.
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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.
John Kenneth Galbraith
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A more important antidote to American democracy is American gerontocracy. The positions of eminence and authority in Congress are allotted in accordance with length of service, regardless of quality.
John Kenneth Galbraith
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The years of the Great Depression were a superb time for economists because people not knowing what could be done or what should be done would always assume that maybe an economist had the answer. If you were just a lawyer in Washington, you were nobody. But if you were an economist, you might have the answer.
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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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We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had much.
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The family which takes it mauve and cerise, air conditioned, power-steered, and power braked automobile out for a tour passes through cities that are badly paved, made hideous by litter, blighted buildings, billboards, and posts for wires that should long since have been put underground.
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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.
John Kenneth Galbraith
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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.
John Kenneth Galbraith
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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.
John Kenneth Galbraith
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Talk of revolution is one of avoiding reality.
John Kenneth Galbraith
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Educators have yet to realize how deeply the industrial system is dependent upon them.
John Kenneth Galbraith
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Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.
John Kenneth Galbraith
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There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.
John Kenneth Galbraith
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Private enterprise did not get us atomic energy.
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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.
John Kenneth Galbraith