Wisdom... is often an abstraction associated not with fact or reality but with the man who asserts it and the manner of its assertion.
John Kenneth GalbraithShe is a reflection of comfortable middle-class values that do not take seriously the continuing unemployment. What I particularly regret is that she does not take seriously the intellectual decline. Having given up the Empire and the mass production of industrial goods, Britain's future lay in its scientific and artistic pre-eminence. Mrs Thatcher will be long remembered for the damage she has done.
John Kenneth GalbraithThe income men derive from producing things of slight consequence is of great consequence. The production reflects the low marginal utility of the goods to society. The income reflects the high total utility of a livelihood to a person.
John Kenneth GalbraithMen will look back in amusement at the pretence that once caused people to refer to General Dynamics and North American Aviation and AT&T as private business.
John Kenneth GalbraithPeople who are in a fortunate position always attribute virtue to what makes them so happy.
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 Galbraith