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Business Quote by John Kenneth Galbraith

“The income men derive from producing things of slight consequence is of great consequence. The production reflects the low marginal utility of the goods to society. The income reflects the high total utility of a livelihood to a person.” quote by John Kenneth Galbraith
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“The income men derive from producing things of slight consequence is of great consequence. The production reflects the low marginal utility of the goods to society. The income reflects the high total utility of a livelihood to a person.”

John Kenneth Galbraith

About This Quote

Source Book: The Affluent Society, 1958

Income from low‑value production appears large because it reflects the high total utility of a livelihood, despite low marginal utility of individual goods.

In simple terms: Low‑value work can seem important due to overall livelihood value.

Key Takeaway

Recognize the difference between marginal and total utility.

Themes

economics value society

Mood

analytical critical

Type

economic philosophical

When to use this quote

  • policy analysis
  • personal finance
  • social welfare
  • career counseling

Key Concepts

marginal utility total utility income distribution

Questions to Reflect On

  • How does marginal utility affect economic decisions?
  • What policies can address low‑value production?
A Different Perspective

High total utility may mask inefficiencies in resource allocation.

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