In economics, the majority is always wrong.

Quote by John Kenneth Galbraith

Topics: John Kenneth Galbraith Quotes

Wisdom itself is often an abstraction associated not with fact or reality but with the...

Wisdom itself is often an abstraction associated not with fact or reality but with the...

In the United States, though power corrupts, the expectation of power paralyzes.

In the United States, though power corrupts, the expectation of power paralyzes.

Where humor is concerned there are no standards - no one can say what is...

Where humor is concerned there are no standards - no one can say what is...

Humor is richly rewarding to the person who employs it. It has some value in...

Humor is richly rewarding to the person who employs it. It has some value in...

All of the great leaders have had one characteristic in common: it was the willingness...

All of the great leaders have had one characteristic in common: it was the willingness...

Inflation does not lubricate trade but by rescuing traders from their errors of optimism or...

Inflation does not lubricate trade but by rescuing traders from their errors of optimism or...

Politics is not the art of the possible. It consists in choosing between the disastrous...

Politics is not the art of the possible. It consists in choosing between the disastrous...

We all agree that pessimism is a mark of superior intellect.

We all agree that pessimism is a mark of superior intellect.

There are few ironclad rules of diplomacy but to one there is no exception. When...

There are few ironclad rules of diplomacy but to one there is no exception. When...

If all else fails, immortality can always be assured by spectacular error.

If all else fails, immortality can always be assured by spectacular error.

Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.

Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.

The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that...

The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that...

In central banking as in diplomacy, style, conservative tailoring, and an easy association with the...

In central banking as in diplomacy, style, conservative tailoring, and an easy association with the...

Economics is extremely useful as a form of employment for economists.

Economics is extremely useful as a form of employment for economists.

Economics is a subject profoundly conducive to cliche, resonant with boredom. On few topics is...

Economics is a subject profoundly conducive to cliche, resonant with boredom. On few topics is...

The enemy of the conventional wisdom is not ideas but the march of events.

The enemy of the conventional wisdom is not ideas but the march of events.

The total alteration in underlying circumstances has not been squarely faced, As a result, we...

The total alteration in underlying circumstances has not been squarely faced, As a result, we...

Who is affected more when it's cold? Poor people. Who is affected more when it's...

Who is affected more when it's cold? Poor people. Who is affected more when it's...

If inflation continues to soar, you're going to have to work like a dog just...

If inflation continues to soar, you're going to have to work like a dog just...

If the economy becomes disembodied from society it can only lead to disaster.

If the economy becomes disembodied from society it can only lead to disaster.

A good battle plan that you act on today can be better than a perfect...

A good battle plan that you act on today can be better than a perfect...