The world of finance hails the invention of the wheel over and over again, often in a slightly more unstable version.
John Kenneth GalbraithI am for a close global association in trade and financial matters, rather than the opposite possibility of excessive nationalism, as manifested in the two world wars.
John Kenneth GalbraithIt had been held that the economic system, any capitalist system, found its equilibrium at full employment. Left to itself, it was thus that it came to rest. Idle men and idle plant were an aberration, a wholly temporary failing. Keynes showed that the modern economy could as well find its equilibrium with continuing, serious unemployment. Its perfectly normal tendency was to what economists have since come to call an underemployment equilibrium.
John Kenneth GalbraithIn public administration good sense would seem to require that public expectation be kept at the lowest possible level in order to minimize eventual disappointment.
John Kenneth Galbraith