John Kenneth Galbraith Quotes About Economists

Quotes about: Economists

• Economics is extremely useful as a form of employment for economists.

  John Kenneth Galbraith

  Government, Home Economics, Employment

  "Biography/ Personal Quotes". www.imdb.com.

• In economics, the majority is always wrong.

  John Kenneth Galbraith

  Inspirational, Majority, Investing

  John Kenneth Galbraith (1969). “Ambassador's Journal”

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

  John Kenneth Galbraith

  Astrology, Looks, Economic

  "Biography/ Personal Quotes". www.imdb.com.

• It 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 Galbraith

  Men, Perfectly Normal, Aberration

  John Kenneth Galbraith (2001). “The Essential Galbraith”, p.234, Houghton Mifflin Harcourt

• The experience of being disastrously wrong is salutary, no economist should be denied it, and not many are.

  John Kenneth Galbraith

  Political, Politics, Should

  John Kenneth Galbraith (1981). “A life in our times: memoirs”, Houghton Mifflin Harcourt

• The accepted ideas of any period are singularly those that serve the dominant economic interest...What economists believe and teach, whether in the United States or in the Soviet Union, is rarely hostile to the institutions - the private business enterprise, the Communist Party - that reflect the dominant economic power. Not to notice this takes effort, although many succeed.

  John Kenneth Galbraith

  Party, Believe, Ideas

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

  John Kenneth Galbraith

  Wise, Economics, Scope

  John Kenneth Galbraith (2001). “The Essential Galbraith”, p.12, Houghton Mifflin Harcourt

• Economists are economical, among other things, of ideas; most make those of their graduate days do for a lifetime.

  John Kenneth Galbraith

  Wisdom, Ideas, Politics

• I write with two things in mind. I want to be right with my fellow economists. After all, I've made my life as a professional economist, so I'm careful that my economics is as it should be. But I have long felt that there's no economic proposition that can't be stated in clear, accessible language. So I try to be right with my fellow economists, but I try to have an audience of any interested, intelligent person.

  John Kenneth Galbraith

  Writing, Intelligent, Two

  Interview with Brian Lamb, Booknotes C-SPAN, November 13, 1994.

• 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.

  John Kenneth Galbraith

  Generations, Lists, Hayek

• The years of the Great Depression were a superb time for economists because people not knowing what could be done or what should be done would always assume that maybe an economist had the answer. If you were just a lawyer in Washington, you were nobody. But if you were an economist, you might have the answer.

  John Kenneth Galbraith

  Years, Knowing, People

  Source: www.progressive.org

• Economists, on the whole, think well of what they do themselves and much less well of what their professional colleagues do.

  John Kenneth Galbraith

  Thinking, Scholarship, Economist

  John Kenneth Galbraith (2015). “The New Industrial State”, p.489, Princeton University Press

• In the assumption that power belongs as a matter of course to capital, all economists are Marxians.

  John Kenneth Galbraith

  Matter, Assumption, Economist

  John Kenneth Galbraith (2015). “The New Industrial State”, p.60, Princeton University Press

• Economists are generally negligent of their heroes.

  John Kenneth Galbraith

  Hero, Economist

  "The Age of Uncertainty". Book by John Kenneth Galbraith. Chapter 1, p. 27, 1977.

• In a world where for pedagogic and other purposes a very large number of economists is required, an arrangement which discourages many of them from

  John Kenneth Galbraith

  Numbers, Purpose, World

  1971 Economics, Peace, and Laughter.

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