In economics, the majority is always wrong.

Quote by John Kenneth Galbraith

Topics: Economics Quotes

Nothing is so admirable in politics as a short memory.

Nothing is so admirable in politics as a short memory.

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...

There is an insistent tendency among serious social scientists to think of any institution which...

There is an insistent tendency among serious social scientists to think of any institution which...

It would be foolish to suggest that government is a good custodian of aesthetic goals....

It would be foolish to suggest that government is a good custodian of aesthetic goals....

Power is not something that can be assumed or discarded at will like underwear.

Power is not something that can be assumed or discarded at will like underwear.

The contented and economically comfortable have a very discriminating view of government. Nobody is ever...

The contented and economically comfortable have a very discriminating view of government. Nobody is ever...

Politics is the art of choosing between the disastrous and the unpalatable.

Politics is the art of choosing between the disastrous and the unpalatable.

One of the little-celebrated powers of Presidents (and other high government officials) is to listen...

One of the little-celebrated powers of Presidents (and other high government officials) is to listen...

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

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

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.

We are becoming the servants in thought, as in action, of the machine we have...

We are becoming the servants in thought, as in action, of the machine we have...

In economics it is a far, far wiser thing to be right than to be...

In economics it is a far, far wiser thing to be right than to be...

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...

Faced with the choice between changing one's mind and proving that there is no need...

Faced with the choice between changing one's mind and proving that there is no need...

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...

If it is dangerous to suppose that government is always right, it will sooner or...

If it is dangerous to suppose that government is always right, it will sooner or...

It is a far, far better thing to have a firm anchor in nonsense than...

It is a far, far better thing to have a firm anchor in nonsense than...

Few people at the beginning of the nineteenth century needed an adman to tell them...

Few people at the beginning of the nineteenth century needed an adman to tell them...

Of all classes the rich are the most noticed and the least studied.

Of all classes the rich are the most noticed and the least studied.

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

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