I am not quite sure what the advantage is in having a few more dollars to spend if the air is too dirty to breathe, the water too polluted to drink, the commuters are losing out in the struggle to get in and out of the city, the streets are filthy, and the schools so bad that the young perhaps wisely stay away, and the hoodlums roll citizens for some of the dollars they saved in the tax cut.
John Kenneth GalbraithLiberalism is, I think, resurgent. One reason is that more and more people are so painfully aware of the alternative.
John Kenneth GalbraithThere can be no question, however, that prolonged commitment to mathematical exercises in economics can be damaging. It leads to the atrophy of judgement and intuition. . .
John Kenneth GalbraithI am for a close global association in trade and financial matters, rather than the opposite possibility of excessive nationalism, as manifested in the two world wars.
John Kenneth GalbraithIn numerous years following the war, the Federal Government ran a heavy surplus. It could not (however) pay off its debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply.
John Kenneth Galbraith