The process by which banks create money is so simple that the mind is repelled.
John Kenneth GalbraithTechnology, under all circumstances, leads to planning; in its higher manifestations it may put the problems of planning beyond the reach of the industrial firm. Technological compulsions, and not ideology or political will, will require the firm to seek the help and protection of the state.
John Kenneth GalbraithPreservationists are the only people in the world who are invariably confirmed in their wisdom after the fact.
John Kenneth GalbraithIn any great organization it is far, far safer to be wrong with the majority than to be right alone.
John Kenneth GalbraithIt had been held that the economic system, any capitalist system, found its equilibrium at full employment. Left to itself, it was thus that it came to rest. Idle men and idle plant were an aberration, a wholly temporary failing. Keynes showed that the modern economy could as well find its equilibrium with continuing, serious unemployment. Its perfectly normal tendency was to what economists have since come to call an underemployment equilibrium.
John Kenneth Galbraith