The problem of the modern economy is not a failure of a knowledge of economics; it's a failure of a knowledge of… — John Kenneth Galbraith Copy Share Image
The size of General Motors is in the service not of monopoly or the economies of scale but of planning. — John Kenneth Galbraith Copy Share Image
Capitalism is chronically unstable.Boom and bust has always marked capitalism in the United States. There were panics in 1785, 1791, 1819, 1857,… — John Kenneth Galbraith Copy Share Image
The total alteration in underlying circumstances has not been squarely faced, As a result, we are guided, in part, by ideas that… — John Kenneth Galbraith Copy Share Image
In the market economy the price that is offered is counted upon to produce the result that is sought. — John Kenneth Galbraith Copy Share Image
Partly, the Russian system succeeds because, in contrast to the Western industrial economies, it makes full use of its manpower. — John Kenneth Galbraith Copy Share Image
It had been held that the economic system, any capitalist system, found its equilibrium at full employment. Left to itself, it was… — John Kenneth Galbraith Copy Share Image
The accepted ideas of any period are singularly those that serve the dominant economic interest...What economists believe and teach, whether in the… — 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
Economists are economical, among other things, of ideas; most make those of their graduate days do for a lifetime. — John Kenneth Galbraith Copy Share Image
A very complicated mass of things influences the economy - the speculative effect, government policy, consumer borrowing and spending, the level of… — John Kenneth Galbraith Copy Share Image
In the usual (though certainly not in every) public decision on economic policy, the choice is between courses that are almost equally… — John Kenneth Galbraith Copy Share Image
All successful revolutions are the kicking in of a rotten door. The violence of revolutions is the violence of men who charge… — 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
Broadly speaking, Keynesianism means that the government has a specific responsibility for the behavior of the economy, that it doesn't work on… — John Kenneth Galbraith Copy Share Image
The fully planned economy, so far from being unpopular, is warmly regarded by those who know it best. — John Kenneth Galbraith Copy Share Image
It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable… — 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 Image
Technology means the systematic application of scientific or other organized knowledge to practical tasks. — John Kenneth Galbraith Copy Share Image
“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 Image
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 Image
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 Image
Agriculture is one economic activity that does not obey the laws of demand and supply. — John Kenneth Galbraith Copy Share Image
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 Image
Washington is a place where men praise courage and act on elaborate personal cost-benefit calculations. — John Kenneth Galbraith Copy Share Image
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 Image
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 Image
While it will be desirable to achieve planned results, it will be even more important to avoid unplanned disasters. — John Kenneth Galbraith Copy Share Image
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 Image
