The 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 GalbraithRalph [ Nader] is an old friend of mine, and he does a useful job in displaying a position.
John Kenneth GalbraithA very complicated mass of things influences the economy - the speculative effect, government policy, consumer borrowing and spending, the level of technical innovation (which I concede, although everyone emphasizes it too much), and much more - including, of course, the rate of inflation.
John Kenneth GalbraithThen came the second Amsterdam discovery, although the principle was known elsewhere. Bank deposits...did not need to be left idly in the bank. They could be lent. The bank then got interest. The borrower then had a deposit that he could spend. But the original deposit still stood to the credit of the original depositor. That too could be spent. Money, spendable money, had been created. Let no one rub his or her eyes. It's still being done-every day. The creation of money by a bank is as simple as this, so simple, I've often said, that the mind is slightly repelled.
John Kenneth GalbraithHumor is richly rewarding to the person who employs it. It has some value in gaining and holding attention, but it has no persuasive value at all.
John Kenneth GalbraithGet the process of negotiation away from the small specialized group that some people have called the "nuclear theologians" ... Only a few people can understand the nature of these weapons ... This kept the whole discussion to a very limited group of people who, in a way, had assumed responsibility for saying whether we should live or die.
John Kenneth Galbraith