Daily Galbraith
@DailyGalbraith
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Daily quotes from economist, diplomat, public official, and intellectual John Kenneth Galbraith | curated by @rhunterh
Cambridge, MA
Joined March 2024
Excellent pod from James Galbraith (@DailyGalbraith fils) and @MerrynSW Entropy Economics "The economy is essentially an organic construction that has to be thought of in those terms and has the same properties as other organic constructions..Every life process taps into high
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Once a boom is well started, it cannot be arrested. It can only be collapsed.
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Any country that has Milton Friedman as an adviser has nothing to fear from a few million Arabs.
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Politics is not the art of the possible. It consists in choosing between the disastrous and the unpalatable.
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There's a certain preference for any social action that is for people who have bank accounts.
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The disenchantment was bound to be as painful as the illusions were beguiling.
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We all agree that pessimism is a mark of superior intellect.
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Oligopoly is an imperfect monopoly. Like the despotism of the Dual Monarchy, it is saved only by its incompetence.
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Nothing in modern attitudes is believed more to signify exceptional intelligence than association with large pools of money. Only immediate experience with those so situated denies the myth.
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The income men derive from producing things of slight consequence is of great consequence to them.
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Decision has greater virtue and force if taken after there has been eloquent dissent.
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The threat to men of great dignity, privilege and pretense is not from the radicals they revile; it is from accepting their own myth. Exposure to reality remains the nemesis of the great -- a little understood thing.
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Truth has anciently been called the first casualty of war. Money may, in fact, have priority.
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It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled sea of thought.
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The occupational disease of the speculator is acute uneasiness.
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I do strongly urge that we be as cautious as ever in reposing too great confidence in men of great financial position.
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Only in very recent times has the average man been a source of savings.
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