John Kenneth Galbraith

United States
15 Oct 1908 // 29 Apr 2006
Economist

Quotes



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