458 Quotes by John Kenneth Galbraith

Few things in life can be so appalling as the difference between a dry antiseptic statement of a principle by a well spoken man in a quiet office, and what happens to people when that principle is put into practice.

Those who had been riding the upward wave decide now is the time to get out. Those who thought the increase would be forever find their illusion destroyed abruptly, and they, also, respond to the newly revealed reality by selling or trying to sell. And thus the rule, supported by the experience of centuries: the speculative episode always ends not with a whimper but with a bang.

Under capitalism, man exploits man. Under communism, it's just the opposite.

Under the privilege of the First Amendment many, many ridiculous things are said.

The massive reduction in risk that is inherent in the development of the modern corporation has been far from fully appreciated.

Who is king in the world of the blind when there isn't even a one eyed man?

Meetings are indispensable when you don't want to do anything.

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.

THE INDUSTRIAL SYSTEM requires that prices be under effective control. And it seeks the greatest possible influence over what buyers take at the established prices.