The shortcomings of economics are not original error but uncorrected obsolescence. The obsolescence has occurred because what is convenient has become sacrosanct. Anyone who attacks such ideas must seem to be a trifle self-confident and even aggressive. The man who makes his entry by leaning against an infirm door gets an unjustified reputation for violence. Something is to be attributed to the poor state of the door.
John Kenneth GalbraithThe privileged have regularly invited their own destruction with their greed.
John Kenneth GalbraithWhat is called a high standard of living consists, in considerable measure, in arrangements for avoiding muscular energy, for increasing sensual pleasure and enhancing caloric intake above any conceivable nutritional requirement.
John Kenneth GalbraithA wrong decision isn't forever; it can always be reversed. The losses from a delayed decision are forever; they can never be retrieved.
John Kenneth GalbraithPeople are the common denominator of progress; no improvement is possible with unimproved people.
John Kenneth GalbraithIn numerous years following the war, the Federal Government ran a heavy surplus. It could not (however) pay off its debt, retire its securities, because to do so meant there would be no bonds to back the national bank notes. To pay off the debt was to destroy the money supply.
John Kenneth Galbraith