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.”
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.
Recognize the difference between marginal and total utility.
Themes
Mood
Type
When to use this quote
- policy analysis
- personal finance
- social welfare
- career counseling
Key Concepts
Questions to Reflect On
- How does marginal utility affect economic decisions?
- What policies can address low‑value production?
High total utility may mask inefficiencies in resource allocation.