I think the role of the Federal Reserve is enormously exaggerated. — John Kenneth Galbraith Copy Share Image
At best, in such depression times, monetary policy is a feeble reed on which to lean. — John Kenneth Galbraith Copy Share Image
The notion that you would initiate a new product without preparing the way by persuasion and advertising and salesmanship is fantastic. It's… — John Kenneth Galbraith Copy Share Image
We have a swarm of people in the stock market - not out of knowledge, not out of expectation, but out of… — John Kenneth Galbraith Copy Share Image
I think without a doubt, that what is called "financial genius" is merely a rising market. — John Kenneth Galbraith Copy Share Image
The massive reduction in risk that is inherent in the development of the modern corporation has been far from fully appreciated. — John Kenneth Galbraith Copy Share Image
Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity. — John Kenneth Galbraith Copy Share Image
The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil. — John Kenneth Galbraith Copy Share Image
In the early days of the crash it was widely believed that Jesse L. Livermore, a Bostonian with a large and unquestionably… — John Kenneth Galbraith Copy Share Image
There is an enormous thrust in our time to have a simple answer. And that simple answer is that all depends on… — John Kenneth Galbraith Copy Share Image
The stock market is but a mirror which provides an image of the underlying or fundamental economic situation. Cause and effect run… — John Kenneth Galbraith Copy Share Image
No one was responsible for the great Wall Street crash. No one engineered the speculation that preceded it. Both were the product… — John Kenneth Galbraith Copy Share Image
Monetary policy suffers from the unfortunate absence of any occult effect. It has long been clear that economic management...would be greatly facilitated… — John Kenneth Galbraith Copy Share Image
More investment trusts securities were offered in September of 1929 even than in August - the total was above $600 million. However,… — John Kenneth Galbraith Copy Share Image
No politician can praise unemployment or inflation, and there is no way of combining high employment with stable prices that does not… — John Kenneth Galbraith Copy Share Image
Even in such a time of madness as the late twenties, a great many man in Wall Street remained quite sane. But… — John Kenneth Galbraith Copy Share Image
Those who had been riding the upward wave decide now is the time to get out. Those who thought the increase would… — John Kenneth Galbraith Copy Share Image
Getting on the cover of TIME guarantees the existence of opposition in the future. — John Kenneth Galbraith Copy Share
Technology means the systematic application of scientific or other organized knowledge to practical tasks. — John Kenneth Galbraith Copy Share
“Men can labor to make sense out of single steps toward the goal without ever pausing to reflect that the goal itself is ludicrous.” — John Kenneth Galbraith Copy Share
Consumer wants can have bizarre, frivolous, or even immoral origins, and an admirable case can still be made for a society that seeks to… — John Kenneth Galbraith Copy Share
That one never need to look beyond the love of money for explanation of human behavior is one of the most jealously guarded simplification… — John Kenneth Galbraith Copy Share
Agriculture is one economic activity that does not obey the laws of demand and supply. — John Kenneth Galbraith Copy Share
If we were not in Vietnam, all that part of the world would be enjoying the obscurity it so richly deserves. — John Kenneth Galbraith Copy Share
Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations. — John Kenneth Galbraith Copy Share
World War II revealed two of the enduring features of the Keynesian Revolution. One was the moral difference between spending for welfare and spending… — John Kenneth Galbraith Copy Share
Money is what fueled the industrial society. But in the informational society, the fuel, the power, is knowledge. One has now come to see… — John Kenneth Galbraith Copy Share
While it will be desirable to achieve planned results, it will be even more important to avoid unplanned disasters. — John Kenneth Galbraith Copy Share
A bad book is the worse that it cannot repent. It has not been the devil's policy to keep the masses of mankind in… — John Kenneth Galbraith Copy Share
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… — John Kenneth Galbraith Copy Share
Inventions that are not made, like babies that are not born, are rarely missed. In the absence of new developments, old ones may seem… — John Kenneth Galbraith Copy Share
