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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
Truth
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Months
January
Book
Deals
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Already
Fraud
Way
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Progressive
Things
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Innocent
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Economics

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There is little that can be said about most economic goods. A toothbrush does little but clean teeth. Aspirin does little but dull pain. Alcohol is important mostly for making people more or less drunk ... There being so little to be said, much is to be invented.
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Nothing so denies a person liberty as the total absence of money.
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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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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.
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Speeches in our culture are the vacuum that fills a vacuum.
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Few economic problems, if any, are difficult of solution. The difficulty, all but invariably, is in confronting them. We know what needs to be done for reasons of inertia, pecuniary interest, passion or ignorance, we do not wish to say so.
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In the world of minor lunacy the behaviour of both the utterly rational and the totally insane seems equally odd.
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Writing is a long and lonesome business back of the problems in thought and composition hover always the awful questions: Is this the page that shows the empty shell? Is it here and now that they find me out?
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According to the experience of all but the most accomplished jugglers, it is easier to keep one ball in the air than many.
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Money is a singular thing. It ranks with love as man's greatest source of joy. And with death as his greatest source of anxiety. Over all history it has oppressed nearly all people in one of two ways: either it has been abundant and very unreliable, or reliable and very scarce.
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The modern corporation must manufacture not only goods but the desire for the goods it manufactures.
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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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American university presidents are a nervous breed I have never thought well of them as a class.
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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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In 1736, Franklin's Pennsylvania Gazette printed an apology for its irregular appearence because its printer was with the Press, labouring for the publick Good, to make Money more plentiful. The press was busy printing money.
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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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We all agree that pessimism is a mark of superior intellect.
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Ideas are inherently conservative. They yield not to the attack of other ideas but to the massive onslaught of circumstance with which they cannot contend.
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Educators have yet to realize how deeply the industrial system is dependent upon them.
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When people are least sure, they are often most dogmatic.
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