John Kenneth Galbraith

United States
15 Oct 1908 // 29 Apr 2006
Economist

Quotes

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The individual serves the industrial system not by supplying it with savings and the resulting capital; he serves it by consuming its products.

The New Industrial State (1967)
If all else fails, immortality can always be achieved by a spectacular mistake.
The salary of the chief executive of the large corporation is not a market reward for achievement. It is frequently in the nature of a warm personal gesture by the individual to himself.

Annals of an Abiding Liberal (1979)
The large corporation is here to stay. Those who would break it up and confine its operations within national boundaries are at war with history and circumstance. People want large tasks performed... Large tasks require large organizations.

The Age of Uncertainty (1977)
It is easy to overlook the absence of appreciable advance in an industry. Inventions that are not made, like babies that are not born, are rarely missed.

The Affluent Society (1958)
A wrong decision isn't forever; it can always be reversed. The losses from a delayed decision are forever; they can never be retrieved.

A Life in our Times (1981)
I would most like to be remembered for bringing emphasis to an economic structure in which the characteristic organization is the great corporation rather than the competitive enterprise and of seeing economic life as a bipolar phenomenon.

Interview, 1986
In the affluent society, no useful distinction can be made between luxuries and necessities.

The Affluent Society (1958)
The income men derive from producing things of slight consequence is of great consequence. The production reflects the low marginal utility of the goods to society. The income reflects the high total utility of a livelihood to a person.

The Affluent Society (1958)
The imperatives of technology and organization... are what determines the shape of economic society.

The New Industrial State (1967)
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