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John Kenneth Galbraith Quotes - Page 14

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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.

Economic theory is the most prestigious subject of instruction and study. Agricultural economics, labor economics and marketing are lower caste fields of study.

John Kenneth Galbraith
Marketing, Fields, Study
John Kenneth Galbraith (2015). “The New Industrial State”, p.154, Princeton University Press

There is wonder and a certain wicked pleasure in these giddy ascents and terrible falls, especially as they happen to other people.

John Kenneth Galbraith
Fall, People, Wicked
John Kenneth Galbraith (2017). “Money: Whence It Came, Where It Went”, p.5, Princeton University Press

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.

John Kenneth Galbraith
Compassion, Work Out, Earth
"The Age of Uncertainty". Book by John Kenneth Galbraith. Chapter 1, p. 30, 1977.

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.

John Kenneth Galbraith
Long, Stronger, Steel
"The Age of Uncertainty". Book by John Kenneth Galbraith. Chapter 2, p. 84, 1977.

Nothing is more portable than rich people and their money

John Kenneth Galbraith
People, Rich, Rich People

The foresight of financial experts was, as so often, a poor guide to the future.

John Kenneth Galbraith
Experts, Financial, Poor
John Kenneth Galbraith (2017). “Money: Whence It Came, Where It Went”, p.159, Princeton University Press

Even the word depression itself was the terminological product of an effort to soften the connotation of deep trouble. In the last century, the term crisis was normally employed. With time, however, this acquired the connotation of the misfortune it described.

John Kenneth Galbraith
Effort, Lasts, Trouble
John Kenneth Galbraith (1998). “The Affluent Society”, p.38, Houghton Mifflin Harcourt

It is in the long run that the corporation lives.

John Kenneth Galbraith
Running, Long, Corporations
John Kenneth Galbraith (1998). “The Affluent Society”, p.171, Houghton Mifflin Harcourt

Only in very recent times has the average man been a source of savings.

John Kenneth Galbraith
Men, Average, Saving
John Kenneth Galbraith (2015). “The New Industrial State”, p.44, Princeton University Press

Inventions that are not made, like babies that are not born, are rarely missed.

John Kenneth Galbraith
Baby, Invention, Born
"The Affluent Society".

It is not the individual's right to buy that is being protected. Rather, it is the seller's right to manage the individual.

John Kenneth Galbraith
Individual, Protected, Manage
John Kenneth Galbraith (2007). “The New Industrial State”, p.270, Princeton University Press

All, the intelligent and stupid, diligent and idle, have been swept along on a current of increased output that, in the usual case, owed nothing whatever to their efforts.

John Kenneth Galbraith
Stupid, Intelligent, Effort
John Kenneth Galbraith (2007). “The New Industrial State”, p.431, Princeton University Press

American university presidents are a nervous breed; I have never thought well of them as a class.

John Kenneth Galbraith
Class, President, American Universities
"The Age of Uncertainty". Book by John Kenneth Galbraith. Chapter 2, p. 60, 1977.

Of all the weapons in the Federal Reserve arsenal, words were the the most unpredictable in their consequences.

John Kenneth Galbraith
Weapons, Unpredictable, Federal Reserve
John Kenneth Galbraith (2009). “The Great Crash 1929”, p.51, Houghton Mifflin Harcourt

It takes a certain brashness to attack the accepted economic legendsbut noneat all toperpetuatethem. So theyare perpetuated.

John Kenneth Galbraith
Economic, Accepted, Certain

War remains the decisive human failure.

John Kenneth Galbraith
Peace, War, Humans
John Kenneth Galbraith (2004). “The Economics of Innocent Fraud”, Penguin Hardcover

The family which takes it mauve and cerise, air conditioned, power-steered, and power braked automobile out for a tour passes through cities that are badly paved, made hideous by litter, blighted buildings, billboards, and posts for wires that should long since have been put underground.

John Kenneth Galbraith
Air, Cities, Long
John Kenneth Galbraith (1998). “The Affluent Society”, p.187, Houghton Mifflin Harcourt

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.

John Kenneth Galbraith
Names, Organization, Decision
John Kenneth Galbraith (2001). “The Essential Galbraith”, p.76, Houghton Mifflin Harcourt

To add to the technostructure is to increase its power in the enterprise.

John Kenneth Galbraith
Add, Increase, Enterprise
John Kenneth Galbraith (1971). “The new industrial state”, Houghton Mifflin

Much discussion of money involves a heavy overlay of priestly incantation.

John Kenneth Galbraith
Heavy, Discussion
1975 Money, p.4.

These are the days when men of all social disciplines and all political faiths seek the comfortable and the accepted; when the man of controversy is looked upon as a disturbing influence; when originality is taken to be a mark of instability; and when, in minor modification of the original parable, the bland lead the bland.

John Kenneth Galbraith
Taken, Men, Discipline
'The Affluent Society' (1958) ch. 1, sect. 3

What is called a high standard of living consists, in considerable measure, in arrangements for avoiding muscular energy, for increasing sensual pleasure and enhancing caloric intake above any conceivable nutritional requirement.

John Kenneth Galbraith
Success, Sensual, Energy
John Kenneth Galbraith (1968). “The New Industrial State”

Decision has greater virtue and force if taken after there has been eloquent dissent.

John Kenneth Galbraith
Taken, Decision, Virtue
John Kenneth Galbraith (2001). “Name-Dropping: From FDR On”, p.186, Houghton Mifflin Harcourt

We live surrounded by a systematic appeal to a dream world which all mature, scientific reality would reject. We, quite literally, advertise our commitment to immaturity, mendacity and profound gullibility. It is as the hallmark of the culture. And it is justified as being economically indispensable.

John Kenneth Galbraith
Dream, Commitment, Reality
John Kenneth Galbraith (2001). “The Essential Galbraith”, p.104, Houghton Mifflin Harcourt

Men have been swindled by other men on many occasions. The autumn of 1929 was, perhaps, the first occasion when men succeeded on a large scale in swindling themselves.

John Kenneth Galbraith
Autumn, Men, Firsts
John Kenneth Galbraith (2009). “The Great Crash 1929”, p.143, Houghton Mifflin Harcourt

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