The traveler to the United States will do wellto prepare himself for the class-consciousness of the natives. This differs from the already familiar English version in being more extreme and based more firmly on the conviction that the class to which the speaker belongs is inherently superior to all others.
John Kenneth GalbraithThe salary of the chief executive of a large corporation is not a market award for achievement. It is frequently in the nature of a warm personal gesture by the individual to himself.
John Kenneth GalbraithThe problem of the modern economy is not a failure of a knowledge of economics; it's a failure of a knowledge of history.
John Kenneth GalbraithFrom the spring of 1941, I controlled all prices in the United States. You could lower a price without my permission, but you couldn't raise a price without my permission or that of my staff.
John Kenneth GalbraithInflation does not lubricate trade but by rescuing traders from their errors of optimism or stupidity.
John Kenneth GalbraithIn the United States, though power corrupts, the expectation of power paralyzes.
John Kenneth GalbraithFinancial operations do not lend themselves to innovation. What is recurrently so described and celebrated is, without exception, a small variation on an established design . . . The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.
John Kenneth Galbraith