“I was in charge of price controls in World War II and had a ceiling on overall prices. Everybody who was subject to general maximum price regulation wanted an exception and went to Congress to persuade a Congressman, or a group of people on the Hill, that I was being a menace to their industry.” PeopleWorldWarWantedGroupsSubjectsIndustryCongressHillsWar Of The WorldsExceptionWorld War IiRegulationWorld War IMaximumCeilingsMenaceCongressman Author:John Kenneth Galbraith
“Third party politics, at least since La Follette, has always had an element of romance.” RomancePartyElementsThirdsThird Parties Author:John Kenneth Galbraith
“The problem of the modern economy is not a failure of a knowledge of economics; it's a failure of a knowledge of history.” ProblemEconomyModernEconomics Author:John Kenneth Galbraith
“The inborn instability of capitalism has been part of the history of the system for several hundred years.” YearsHas BeensHundredCapitalismInstability Author:John Kenneth Galbraith
“I think the role of the Federal Reserve is enormously exaggerated.” ThinkingRolesReservesExaggeratedFederal Reserve Author:John Kenneth Galbraith
“I am for a close global association in trade and financial matters, rather than the opposite possibility of excessive nationalism, as manifested in the two world wars.” WorldTwoWarMatterPossibilityOppositesTradeFinancialWar Of The WorldsNationalismAssociationTwo Worlds Author:John Kenneth Galbraith
“There's no question that in my lifetime, the contrast between what I called private affluence and public squalor has become very much greater.” GreaterLifetimeContrastAffluenceSqualor Author:John Kenneth Galbraith
“Things that come from the private sector are in abundant supply; things that depend on the public sector are widely a problem. We're a world, as I said in The Affluent Society, of filthy streets and clean houses, poor schools and expensive television.” WorldSaidProblemSchoolHousePoorStreetsTelevisionDependsCleanExpensivePrivate SectorFilthyAffluentPublic SectorClean House Author:John Kenneth Galbraith
“I've been a faithful reader of the great classical documents of economics, or tried to be. The first book in the field that I ever read was Principles of Economics by Alfred Marshall. I suppose subsequently I would have to pick out Keynes, Adam Smith, Marx.” FirstsBookPrinciplesFieldsReaderPicksEconomicsFaithfulAdamDocumentsKeynes 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.” PeopleIfsShouldYearsDoneMightAnswersKnowingAssumingLawyerNot KnowingEconomistGreat DepressionSuperb Author:John Kenneth Galbraith