Economics Quote by John Kenneth Galbraith
“The fully planned economy, so far from being unpopular, is warmly regarded by those who know it best.”
About This Quote
Source Book: The Affluent Society, 1958
Planned economies are often praised by insiders who understand their benefits, despite popular belief they are unpopular.
In simple terms: Experts like planned economies; outsiders think otherwise.
Key Takeaway
Consider insider perspectives on economic systems.
Themes
economics
public perception
policy
planned economy
insider knowledge
Mood
analytical
critical
Type
economic
philosophical
When to use this quote
- government budgeting
- policy debates
- academic courses
Key Concepts
economic theory
policy analysis
public opinion
Questions to Reflect On
- What evidence supports insider approval?
- How do planned economies affect innovation?
A Different Perspective
Planned economies can limit individual freedoms and innovation.
