John Kenneth Galbraith Economics Quotations

In economics, hope and faith coexist with great scientific pretension and also a deep desire for respectability.

Few can believe that suffering, especially by others, is in vain. Anything that is disagreeable must surely have beneficial economic effects.

In economics, unlike fiction and the theater, there is no harm in a premature disclosure of the plot: it is to see the changes just mentioned and others as an interlocked whole.

The fully planned economy, so far from being unpopular, is warmly regarded by those who know it best.

In economics it is a far, far wiser thing to be right than to be consistent

Foresight is an imperfect thing - all prevision in economics is imperfect.

There is an old saying, or should be, that it is a wise economist who recognizes the scope of his own generalizations.

Nothing so weakens a government as inflation.

Economics is not an exact science.

It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.

The problem of the modern economy is not a failure of a knowledge of economics; it's a failure of a knowledge of history.