John Kenneth Galbraith Quotes
-
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.
-
Authorship of any sort is a fantastic indulgence of the ego. It is well no doubt, to reflect on how much one owes to others.
-
A drastic reduction in weapons competition following a general release from the commitment to the Cold War would be sharply in conflict with the needs of the industrial system.
-
Because of his compassion Owen was always in trouble with his partners. They would have much preferred a tough, down-to-earth manager who would get a days work out of the little bastards.
-
Humor is richly rewarding to the person who employs it. It has some value in gaining and holding attention, but it has no persuasive value at all.
-
It is in the long run that the corporation lives.
-
However, it is safe to say that at the peak in 1929 the number of active speculators was less - and probably was much less - than a million.
-
No one was responsible for the great Wall Street crash. No one engineered the speculation that preceded it. Both were the product of free choice and decision of hundreds of thousands of individuals.
-
Any country that has Milton Friedman as an adviser has nothing to fear from a few million Arabs.
-
It's a rule worth having in mind. Income almost always flows along the same axis as power but in the opposite direction.
-
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.
-
It was in World War I that the age-old certainties were lost. Until then aristocrats and capitalists felt secure in their position, and even socialists felt certain in their faith. It was never to be so again. The Age of Uncertainty began.
-
The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
-
Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study.
-
Clerks in downtown hotels were said to be asking guests whether they wished the room for sleeping or jumping. Two men jumped hand-in-hand from a high window in the Ritz. They had a joint account.
-
Ideas do not respect national frontiers, and this is especially so where language and other traditions are in common.
-
We all agree that pessimism is a mark of superior intellect.
-
The traveler to the United States will do well, however, to prepare himself for the class-consciousness of the natives. This differs from the already familiar English version in being more extreme and based more firmly on the conviction that the class to which the speaker belongs is inherently superior to all others.
-
There is no name for all who participate in group decision-making or the organization which they form. I propose to call this organization the Technostructure.
-
Seaboard Air Line, which was thought by numerous innocents to provide a foothold in aviation, was another favorite, although, in fact, it was a railroad.
-
All successful revolutions are the kicking in of a rotten door.
-
Of all classes the rich are the most noticed and the least studied.
-
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.
-
Economics is not an exact science.