In the market economy the price that is offered is counted upon to produce the result that is sought.
John Kenneth GalbraithMuch literary criticism comes from people for whom extreme specialization is a cover either for grave cerebral inadequacy or terminal laziness, the latter being a much-cherished aspect of academic freedom.
John Kenneth GalbraithCapitalism is chronically unstable.Boom and bust has always marked capitalism in the United States. There were panics in 1785, 1791, 1819, 1857, 1869, 1873, 1907, 1929 and 1987.In economies and politics, as in war, an astonishing number of people die, like the man on the railway crossing, defending their right of way. This is a poorly developed instinct in Switzerland. No country so firmly avows the principles of private enterprise but in few have the practical concessions to socialism been more numerous and varied.
John Kenneth GalbraithAccording to the experience of all but the most accomplished jugglers, it is easier to keep one ball in the air than many.
John Kenneth GalbraithAmong all the world's races, some obscure Bedouin tribes possibly apart, Americans are the most prone to misinformation. This is not the consequence of any special preference for mendacity, although at the higher levels of their public administration that tendency is impressive. It is rather that so much of what they themselves believe is wrong.
John Kenneth Galbraith