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John Kenneth Galbraith Quotes
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Partly, the Russian system succeeds because, in contrast to the Western industrial economies, it makes full use of it's manpower (John Kenneth Galbraith Quotes)
Money is what fueled the industrial society. But in the informational society, the fuel, the power, is knowledge. One has now come to see a new class structure divided by those who have information and those who must function out of ignorance. This new class has it's power not from money, not from land, but from knowledge (John Kenneth Galbraith Quotes)
To see economic policy as a problem of choice between rival ideologies is the greatest error of our time (John Kenneth Galbraith Quotes)
There can be few fields of human endeavor in which history counts for so little as in the world of finance. Past experience, to the extent that it is part of memory at all, is dismissed as the primitive refuge of the those who do not have insight to appreciate the incredible wonders of the present (John Kenneth Galbraith Quotes)
If you get a reputation for being honest, you have 95 percent of the competition already beat (John Kenneth Galbraith Quotes)
It's much easier to point out the problem than it is to say just how it should be solved (John Kenneth Galbraith Quotes)
If we are concerned about our great appetite for materials, it is plausible to decrease waste, to make better use of stocks available, and to develop substitutes. But what about the appetite itself? The major cause of the continued deterioration of the global environment is the unsustainable pattern of consumption and production, particularly in industrialised countries (John Kenneth Galbraith Quotes)
The shortcomings of economics are not original error but uncorrected obsolescence. The obsolescence has occurred because what is convenient has become sacrosanct. Anyone who attacks such ideas must seem to be a trifle self-confident and even aggressive. The man who makes his entry by leaning against an infirm door gets an unjustified reputation for violence. Something is to be attributed to the poor state of the door (John Kenneth Galbraith Quotes)
Good writing, and this is especially important in a subject such as economics, must also involve the reader in the matter at hand. It is not enough to explain. The images that are in the mind of the writer must be made to reappear in the mind of the reader, and it is the absence of this ability that causes much economic writing to be condemned, quite properly, as abstract (John Kenneth Galbraith Quotes)
Every corner of the public psyche is canvassed by some of the most talented citizens to see if the desire for some merchandisable product can be cultivated (John Kenneth Galbraith Quotes)
The income men derive from producing things of slight consequence is of great consequence. The production reflects the low marginal utility of the goods to society. The income reflects the high total utility of a livelihood to a person (John Kenneth Galbraith Quotes)
The drive toward complex technical achievement offers a clue to why the U.S. is good at space gadgetry and bad at slum problems (John Kenneth Galbraith Quotes)
There is an insistent tendency among serious social scientists to think of any institution which features rhymed and singing commercials, intense and lachrymose voices urging highly improbable enjoyment, caricatures of the human esophagus in normal and impaired operation, and which hints implausibly at opportunities for antiseptic seduction as inherently trivial. This is a great mistake. The industrial system is profoundly dependent on commercial television and could not exist in it's present form without it (John Kenneth Galbraith Quotes)
The questions that are beyond the reach of economics - the beauty, dignity, pleasure and durability of life - may be inconvenient but they are important (John Kenneth Galbraith Quotes)
According to the experience of all but the most accomplished jugglers, it is easier to keep one ball in the air than many (John Kenneth Galbraith Quotes)
Inventions that are not made, like babies that are not born, are rarely missed. In the absence of new developments, old ones may seem very impressive for quite a long while (John Kenneth Galbraith Quotes)
Financial operations do not lend themselves to innovation. What is recurrently so described and celebrated is, without exception, a small variation on an established design... The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version (John Kenneth Galbraith Quotes)
In central banking as in diplomacy, style, conservative tailoring, and an easy association with the affluent count greatly and results far much less (John Kenneth Galbraith Quotes)
I have never understood why one’s affections must be confined, as once with women, to a single country (John Kenneth Galbraith Quotes)
Consumer wants can have bizarre, frivolous, or even immoral origins, and an admirable case can still be made for a society that seeks to satisfy them. But the case cannot stand if it is the process of satisfying wants that create the wants (John Kenneth Galbraith Quotes)
Few things in life can be so appalling as the difference between a dry antiseptic statement of a principle by a well spoken man in a quiet office, and what happens to people when that principle is put into practice (John Kenneth Galbraith Quotes)
When you see reference to a new paradigm you should always, under all circumstances, take cover (John Kenneth Galbraith Quotes)
It is the good fortune of the affluent country that the opportunity cost of economic discussion is low and hence it can afford all kinds (John Kenneth Galbraith Quotes)
In a world where for pedagogic and other purposes a very large number of economists is required, an arrangement which discourages many of them from (John Kenneth Galbraith Quotes)
Economists are economical, among other things, of ideas; most make those of their graduate days do for a lifetime (John Kenneth Galbraith Quotes)
Preservationists are the only people in the world who are invariably confirmed in their wisdom after the fact (John Kenneth Galbraith Quotes)
Nostalgia combines regularly with manifest respectability to give credence to old error as opposed to new truth (John Kenneth Galbraith Quotes)
No intelligence system can predict what a government will do if it doesn’t know itself (John Kenneth Galbraith Quotes)
In economics it is a far, far wiser thing to be right than to be consistent (John Kenneth Galbraith Quotes)
At best, in such depression times, monetary policy is a feeble reed on which to lean (John Kenneth Galbraith Quotes)