John Kenneth Galbraith Quotes
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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.
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The notion of a formal structure of command must be abandoned. It is more useful to think of the mature corporation as a series of concentric circles.
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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.
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It is not the individual's right to buy that is being protected. Rather, it is the seller's right to manage the individual.
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Who is king in the world of the blind when there isn't even a one eyed man?
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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.
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I've long believed alas, that in highly organized industrial societies, capitalist or socialist, the stronger tendency is to converge - that if steel or automobiles are wanted and must be made on a large scale, the process will stamp its imprint on the society, whether that me be Magnitogorsk or Gary, Indiana.
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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.
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It's a rule worth having in mind. Income almost always flows along the same axis as power but in the opposite direction.
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We have escapist fiction, so why not escapist biography?
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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.
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In all life one should comfort the afflicted, but verily, also, one should afflict the comfortable, and especially when they are comfortably, contentedly, even happily wrong.
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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.
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Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study.
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The size of General Motors is in the service not of monopoly or the economies of scale but of planning.
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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.
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War remains the decisive human failure.
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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.
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In the assumption that power belongs as a matter of course to capital, all economists are Marxians.
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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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Economics is not an exact science.
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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.
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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.
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All successful revolutions are the kicking in of a rotten door.