Accord Quote by John Kenneth Galbraith
“Let’s begin with capitalism, a word that has gone largely out of fashion. The approved reference now is to the market system. This shift minimizes - indeed, deletes - the role of wealth in the economic and social system. And it sheds the adverse connotation going back to Marx. Instead of the owners of capital or their attendants in control, we have the admirably impersonal role of market forces. It would be hard to think of a change in terminology more in the interest of those to whom money accords power. They have now a functional anonymity.”
About This Quote
Source Book: The Affluent Society, 1958
He argues that calling the economy “market system” hides wealth’s role and gives anonymity to the powerful.
In simple terms: Renaming economics masks the influence of money.
Key Takeaway
Name changes can obscure real power structures.
Themes
economics
language
power
anonymity
Mood
analytical
reflective
Type
sociopolitical
critical
When to use this quote
- policy analysis
- public discourse
- media framing
Key Concepts
capitalism
marxism
public perception
Questions to Reflect On
- How does language shape public perception of economics?
- Can terminology truly neutralize wealth’s influence?
A Different Perspective
Renaming may not change underlying power dynamics.
