Inflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
John Kenneth GalbraithBy all but the pathologically romantic, it is now recognized that this is not the age of the small man.
John Kenneth GalbraithThe individual serves the planning system not by supplying it with savings and the resulting capital; he serves it far more by consuming its products.
John Kenneth GalbraithThere's no question that in my lifetime, the contrast between what I called private affluence and public squalor has become very much greater.
John Kenneth GalbraithThe privileged have regularly invited their own destruction with their greed.
John Kenneth GalbraithThe years of the Great Depression were a superb time for economists because people not knowing what could be done or what should be done would always assume that maybe an economist had the answer. If you were just a lawyer in Washington, you were nobody. But if you were an economist, you might have the answer.
John Kenneth Galbraith