Wisdom, itself, 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 GalbraithMots clés wisdom foolishness wall-street crash
Trickle-down theory - the less than elegant metaphor that if one feeds the horse enough oats, some will pass through to the road for the sparrows.
John Kenneth GalbraithThe sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil.
John Kenneth GalbraithThe process by which wants are now synthesized is a potential source of economic instability. Production and therewith employment and social security are dependent on an inherently unstable process of consumer debt creation. This may one day falter.
John Kenneth GalbraithThe family which takes its mauve an cerise, air-conditioned, power-steered and power-braked automobile out for a tour passes through cities that are badly paved, made hideous by litter, lighted buildings, billboards and posts for wires that should long since have been put underground. They pass on into countryside that has been rendered largely invisible by commercial art. (The goods which the latter advertise have an absolute priority in our value system. Such aesthetic considerations as a view of the countryside accordingly come second. On such matters we are consistent.) They picnic on exquisitely packaged food from a portable icebox by a polluted stream and go on to spend the night at a park which is a menace to public health and morals. Just before dozing off on an air mattress, beneath a nylon tent, amid the stench of decaying refuse, they may reflect vaguely on the curious unevenness of their blessings. Is this, indeed, the American genius?
John Kenneth GalbraithMilton Friedman’s misfortune is that his economic policies have been tried.
John Kenneth GalbraithAmericans had built themselves a world of speculative pipe dreams. That world was inhabited, not by people who had to be convinced, but by people who sought excuses for believing.
John Kenneth GalbraithAll of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.
I am worried about our tendency to over invest in things and under invest in people.
John Kenneth GalbraithMots clés inspirational people political investments
If there must be madness, something may be said for having it on a heroic scale
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