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John Kenneth Galbraith Quotes

Economist

John Kenneth Galbraith was a renowned economist known for his research on economic cycles, market structures, and government policies. His works have had a profound impact on economic theory and policy practice.

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Famous John Kenneth Galbraith Quotes

“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.”

Life Should Acceptance Comfort Comfortable Affliction Complacency

Author:John Kenneth Galbraith

“The Metropolis should have been aborted long before it became New York, London or Tokyo.”

Should Long Has Beens Cities Economy New York Should Have London Should Have Been City Life Tokyo Metropolis Cities At Night City Of London

Author:John Kenneth Galbraith

“Those who yearn for the end of capitalism should pray for government by men who believe that all positive action is inimical to what they call thoughtfully the fundamental principles of free enterprise.”

Men Should Believe Ends Government Action Principles Praying Capitalism Fundamentals Enterprise Free Enterprise Fundamental Principles

Author:John Kenneth Galbraith

“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.”

Should Mystery Sells Buyers Stock Exchange

Book:THE GREAT CRASH 1929

Source: THE GREAT CRASH 1929

“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.”

Should Long Has Beens Made Cities Air Building Posts Wire Automobile Hideous Billboards

Book:The affluent society

Source: The affluent society

“Nothing in our time is more interesting than the erstwhile capitalist corporation and the erstwhile Communist firm should, under the imperatives of organization, come together as oligarchies of their own members.”

Should Together Interesting Members Organization Firm Corporations Our Time Communist Capitalist Imperatives Oligarchy

Book:the new industrial state

Source: the new industrial state

“When you see reference to a new paradigm you should always, under all circumstances, take cover. Because ever since the great tulipmania in 1637, speculation has always been covered by a new paradigm. There was never a paradigm so new and so wonderful as the one that covered John Law and the South Sea Bubble - until the day of disaster.”

Should Law Wonderful Sea Circumstances South Disaster Covered Bubbles Speculation Paradigm

Author:John Kenneth Galbraith

“When you see reference to a new paradigm you should always, under all circumstances, take cover.”

Should Circumstances Paradigm

Author:John Kenneth Galbraith

“I write with two things in mind. I want to be right with my fellow economists. After all, I've made my life as a professional economist, so I'm careful that my economics is as it should be. But I have long felt that there's no economic proposition that can't be stated in clear, accessible language. So I try to be right with my fellow economists, but I try to have an audience of any interested, intelligent person.”

“Almost every aspect of its (Federal Reserve) history should be approached with a discriminating disregard for what is commonly taught or believed.”

Should Taught Aspect Investing Reserves Disregard Federal Reserve

Author:John Kenneth Galbraith

“I was brought up in southwestern Ontario where we were taught that Canadian patriotism should not withstand anything more than a five-dollar-a-month wage differential. Anything more than that and you went to Detroit.”

Should Five Taught Months Dollars Detroit Ontario

Author:John Kenneth Galbraith

“It was not hard to persuade people that the market was sound; as always in such times they asked only that the dispiriting voices of doubt be muted and that there should be tolerably frequent expressions of confidence.”

People Should May Hard Sound Voice Doubt Expression Months Crash Recessions Stock Price

Author:John Kenneth Galbraith

“Get the process of negotiation away from the small specialized group that some people have called the "nuclear theologians" ... Only a few people can understand the nature of these weapons ... This kept the whole discussion to a very limited group of people who, in a way, had assumed responsibility for saying whether we should live or die.”

People Way Should Whole Dies Process Responsibility Groups Weapons Nuclear Discussion Negotiation Theologian

Author:John Kenneth Galbraith

“The huge capacity to purchase submission that goes with any large sum of money, well, this we have. This is a power of which we should all be aware.”

Should Wells Huge Capacity Submission

Author:John Kenneth Galbraith

“The years of the Great Depression were a superb time for economists because people not knowing what could be done or what should be done would always assume that maybe an economist had the answer. If you were just a lawyer in Washington, you were nobody. But if you were an economist, you might have the answer.”

People Ifs Should Years Done Might Answers Knowing Assuming Lawyer Not Knowing Economist Great Depression Superb

Author:John Kenneth Galbraith

“The inborn instability of capitalism has been part of the history of the system for several hundred years, including recurrent speculative episodes. There should be no doubt in anyone's mind that we're now having another one of those speculative episodes.”

Should Years Mind Has Beens Doubt Hundred Capitalism Including No Doubt Episodes Instability

Author:John Kenneth Galbraith

“The oldest [John Kenneth] Galbraith rule is that when you hear that a new era has dawned, you should take cover.”

Should Eras New Era Kenneth

Author:John Kenneth Galbraith

“There is an old saying, or should be, that it is a wise economist who recognizes the scope of his own generalizations.”

Should Wise Economics Economist Scope Generalization Old Saying

Book:The Essential Galbraith

Source: The Essential Galbraith

“The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.”

Should Political Politics Denied Economist

Book:A life in our times: memoirs

Source: A life in our times: memoirs

“It's much easier to point out the problem than it is to say just how it should be solved.”

Should Problem Easier

Book:Capitalism, communism and coexistence: from the bitter past to a better prospect

Source: Capitalism, communism and coexistence: from the bitter past to a better prospect

“The spirit should never grow old.”

Should Age Spirit Spirituality Grows Aging Old Age Growing Old Wrinkles Brows 50th Birthday Aging Gracefully Growing Old Gracefully

Author:John Kenneth Galbraith

About the Author

Born: October 15, 1908
Died: April 29, 2006
Known for: Economist
Quotes: 408

Books & Sources

the new industrial stateRelated source material

The affluent societyRelated source material

THE GREAT CRASH 1929Related source material

Money: Whence It Came, Where It WentRelated source material

The Essential GalbraithRelated source material

A Short History of Financial EuphoriaRelated source material

A life in our times: memoirsRelated source material

The great crash, 1929Related source material

Ambassador's JournalRelated source material

Economics in Perspective: A Critical HistoryRelated source material

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