It 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 GalbraithWe have a swarm of people in the stock market - not out of knowledge, not out of expectation, but out of basically a gambling instinct, the hope that prices will go up.
John Kenneth GalbraithThe huge capacity to purchase submission that goes with any large sum of money, well, this we have. This is a power of which we should all be aware.
John Kenneth Galbraith