John Kenneth Galbraith Economic Quotations

The great dialectic in our time is not, as anciently and by some still supposed, between capital and labor; it is between economic enterprise and the state.

The only function of economic forecasting is to make astrology look respectable.

It takes a certain brashness to attack the accepted economic legendsbut noneat all toperpetuatethem. So theyare perpetuated.

The seminar in economic theory conducted by Hayek at the L.S.E. in the 1930s was attended, it came to seem, by all of the economists of my generation - Nicky Kaldor , Thomas Balogh, L. K. Jah, Paul Rosenstein-Rodan, the list could be indefinitely extended. The urge to participate (and correct Hayek) was ruthlessly competitive.

Economic stimulation that works through the increased outlays to the affluent has, inevitably, an aspect of soundness and sanity that is lacking in expenditure on behalf of the undeserving poor.

Economic life, as always, is a matrix in which result becomes cause and cause becomes result.

Milton Friedman’s misfortune is that his economic policies have been tried.

In the conventional wisdom of conservatives, the modern search for security is regularly billed as the greatest single threat to economic progress.