More investment trusts securities were offered in September of 1929 even than in August - the total was above $600 million. However, the nearly simultaneous promotion of Shenandoah and Blue Ridge was to stand as the pinnacle of new era finance. It is difficult not to marvel at the imagination which was implicit in this gargantuan insanity. If there must be madness something may be said for having it on a heroic scale.
John Kenneth GalbraithSuperficial observers have long criticized the United States for making a fetish of youth. This is unfair. Uniquely among modern organs of public and private administration, its national legislature rewards senility.
John Kenneth GalbraithThe fully planned economy, so far from being unpopular, is warmly regarded by those who know it best.
John Kenneth GalbraithThe privileged have regularly invited their own destruction with their greed.
John Kenneth GalbraithIn the United States all business not transacted over the telephone is accomplished in conjunction with alcohol or food, often under conditions of advanced intoxication. This is a fact of the utmost importance for the visitor of limited funds... for it means that the most expensive restaurants are, with rare exceptions, the worst.
John Kenneth GalbraithAll writers know that on some golden mornings they are touched by the wand; they are on intimate terms with poetry and cosmic truth. I have experienced these moments myself. Their lesson is simple: It's a total illusion. And the danger in the illusion is that you will wait for those moments.
John Kenneth Galbraith