458 Quotes by John Kenneth Galbraith

In economics, the majority is always wrong.

Educators have yet to realize how deeply the industrial system is dependent upon them.

In the usual (though certainly not in every) public decision on economic policy, the choice is between courses that are almost equally good or equally bad. It is the narrowest decisions that are most ardently debated. If the world is lucky enough to enjoy peace, it may even one day make the discovery, to the horror of doctrinaire free-enterprisers and doctrinaire planners alike, that what is called capitalism and what is called socialism are both capable of working quite well.

Truth has anciently been called the first casualty of war. Money may, in fact, have priority.

One must always have in mind one simple fact - there is no literate population in the world that is poor, and there is no illiterate population that is anything but poor.

Oligopoly is an imperfect monopoly. Like the despotism of the Dual Monarchy, it is saved only by its incompetence.

If inheritance qualifies one for office, intelligence cannot be a requirement.

The inborn instability of capitalism has been part of the history of the system for several hundred years.

Seaboard Air Line, which was thought by numerous innocents to provide a foothold in aviation, was another favorite, although, in fact, it was a railroad.