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Quote by John Kenneth Galbraith

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John Kenneth Galbraith
John Kenneth Galbraith

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. more

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“One of my greatest pleasures in my writing has come from the thought that perhaps my work might annoy someone of comfortably pretentious position. Then comes the realization that such people rarely read.”

PeopleWritingMightPoliticsPleasurePositionRealizationAnnoyingPretentiousGreatest Pleasures
Book:Unconventional wisdom: lectures from the John Kenneth Galbraith prize in economics
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“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.”

IfsSaidEnoughSidesGenerationsEconomicPolicyTheoryApproachEconomicsHorseElegantSparrowsEconomic PolicyTrickle DownOatsTrickle Down EconomicsSupply Side Economics
Author:John Kenneth Galbraith
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“Even in such a time of madness as the late twenties, a great many man in Wall Street remained quite sane. But they also remained very quiet. The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil. Perhaps this is inherent. In a community where the primary concern is making money, one of the necessary rules is to live and let live. To speak out against madness may be to ruin those who have succumbed to it. So the wise in Wall Street are nearly always silent. The foolish thus have the field to themselves. None rebukes them.”

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Book:The great crash, 1929
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“More investment trusts securities were offered in September of 1929 even than in August - the total was above $600 million. However, the nearly simultaneous promotion of Shenandoah and Blue Ridge was to stand as the pinnacle of new era finance. It is difficult not to marvel at the imagination which was implicit in this gargantuan insanity. If there must be madness something may be said for having it on a heroic scale.”

IfsMaySaidDifficultImaginationMillionsSecurityMadnessBlueInvestmentScalesFinanceErasInsanityHeroicSeptemberPromotionAugustImplicitNew EraPinnacleRidgesSimultaneous
Book:THE GREAT CRASH 1929
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