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I've been writing a book called The Economics of Innocent Fraud. I published part of it already in The Progressive (Free Market Fraud, January 1999). But I've been interrupted these last few months. It deals with all of the things we do, in an innocent way, to cover up the truth.

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
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The inborn instability of capitalism has been part of the history of the system for several hundred years.
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Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy — what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.
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In economics, the majority is always wrong.
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In any great organization it is far, far safer to be wrong with the majority than to be right alone.
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War remains the decisive human failure.
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Economics is not an exact science.
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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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If you're rich you can buy books. If you're poor, you need a library.
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Franklin Delano Roosevelt and J.F Kennedy were Presidents in very different times.
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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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I accept the global complex and global trade more than do some of my liberal colleagues because I consider this a wise alternative to national tension and conflict.
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