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CATEGORIES
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John Kenneth Galbraith
: Economics is extremely useful as a form of employment for economists.
# Economy and Economics
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John Kenneth Galbraith quote-Economics is extremely useful as a form of employment for economists. ...
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Milton Friedman :
"
"Thanks to economists, all of us, from the days of Adam Smith and before right down to the present, tariffs are perhaps one tenth of one percent lower than they otherwise would have been." Very long pause. "And because of our efforts, we have earned our salaries ten-thousand fold." -- Speaking at a meeting of the American Economic Association [1]
"
# Economy and Economics
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Ron Paul :
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Although it is obvious that the Keynesians were all wrong and interventionism and central economic planning don’t work, whom are we listening to for advice on getting us out of this mess? Unfortunately, it’s the Keynesians, the socialists, and big-government proponents. Who’s being ignored? The Austrian free-market economists — the very ones who predicted not only the Great Depression, but the calamity we’re dealing with today. If the crisis was predictable and is explainable, why did no one listen? It’s because too many politicians believed that a free lunch was possible and a new economic paradigm had arrived. But we’ve heard that one before — like the philosopher’s stone that could turn lead into gold. Prosperity without work is a dream of the ages.
"
# Economy and Economics
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Friedrich August Von Hayek :
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Q. [McCallum] .. are there other economists who have had a really major influence on your thinking? A. [Melzer] Well I mentioned Hayek. There are two ways. One is because of my interest in political economy. The other way is that Hayek was a pioneer in the use of information in economics. One of the papers that Karl and I wrote together that I continue to like was a paper called "The Uses of Money". In that paper we tried to incorporate information and the cost of information to explain why people use money. One of Hayek's most basic ideas is that institutions are a way of reducing uncertainty. Man struggles to find institutional arrangements which on average make life a bit more predictable. Our "Uses of Money" is not so much about money as we conventionally think about it, it's about the idea of a medium of exchange, the function of an institution called the medium of exchange and how the medium of exchange as an institution resolves a part of peoples uncertainty about the future.
"
# Economy and Economics
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Noam Chomsky :
"
Unlimited economic growth has the marvelous quality of stilling discontent while maintaining privilege, a fact that has not gone unnoticed among liberal economists.
"
# Economy and Economics
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Thomas Carlyle :
"
No violent extreme endures.
"
# Economy and Economics
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Friedrich Nietzsche :
"
Extreme positions are not succeeded by moderate ones, but by contrary extreme positions.
"
# Economy and Economics
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Quentin Crisp :
"
This woman did not fly to extremes; she lived there.
"
# Economy and Economics
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Bishop Hall :
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Nothing fools people as much as extreme passion.
"
# Economy and Economics
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Reinhold Niebuhr :
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Our age knows nothing but reaction, and leaps from one extreme to another.
"
# Economy and Economics
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Thomas Kyd :
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Thus must we toil in other men's extremes, That know not how to remedy our own.
"
# Economy and Economics
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John Kenneth Galbraith Wisdom feed
152
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John Kenneth Galbraith:
"
If all else fails, immortality can always be assured by spectacular error.
"
# Mistakes
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John Kenneth Galbraith:
"
More die in the United States from too much food that from too little.
"
# Food and Eating
# Death and Dying
# America
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John Kenneth Galbraith:
"
Economics is extremely useful as a form of employment for economists.
"
# Economy and Economics
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John Kenneth Galbraith:
"
The conventional view serves to protect us from the painful job of thinking.
"
# Thoughts and Thinking
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John Kenneth Galbraith:
"
Washington is a place where people praise courage and act on elaborate personal cost-benefit calculations.
"
# Courage
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John Kenneth Galbraith:
"
Meetings are indispensable when you don't want to do anything.
"
# Meetings
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John Kenneth Galbraith:
"
A person buying ordinary products in a supermarket is in touch with his deepest emotions.
"
# Pornography
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tweets
John Kenneth Galbraith:
"
Few people at the beginning of the ninteenth century needed an adman to tell them what they wanted.
"
# Truth
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John Kenneth Galbraith:
"
Technology means the systematic application of scientific or other organized knowledge to practical tasks.
"
# Science and Scientists
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tweets
John Kenneth Galbraith:
"
The only function of economic forecasting is to make astrology look respectable.
"
# Superstition
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![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=47326&author=John Kenneth Galbraith"e=Economics+is+extremely+useful+as+a+form+of+employment+for+economists.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F8153%2FJohn+Kenneth_Galbraith_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=83173&author=Milton Friedman"e=%22Thanks+to+economists%2C+all+of+us%2C+from+the+days+of+Adam+Smith+and+before+right+down+to+the+present%2C+tariffs+are+perhaps+one+tenth+of+one+percent+lower+than+they+otherwise+would+have+been.%22+Very+long+pause.+%22And+because+of+our+efforts%2C+we+have+earned+our+salaries+ten-thousand+fold.%22+--+Speaking+at+a+meeting+of+the+American+Economic+Association+%5B1%5D&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F2351%2FMilton_Friedman_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=103309&author=Ron Paul"e=Although+it+is+obvious+that+the+Keynesians+were+all+wrong+and+interventionism+and+central+economic+planning+don%E2%80%99t+work%2C+whom+are+we+listening+to+for+advice+on+getting+us+out+of+this+mess%3F+Unfortunately%2C+it%E2%80%99s+the+Keynesians%2C+the+socialists%2C+and+big-government+proponents.+Who%E2%80%99s+being+ignored%3F+The+Austrian+free-market+economists+%E2%80%94+the+very+ones+who+predicted+not+only+the+Great+Depression%2C+but+the+calamity+we%E2%80%99re+dealing+with+today.+If+the+crisis+was+predictable+and+is+explainable%2C+why+did+no+one+listen%3F+It%E2%80%99s+because+too+many+politicians+believed+that+a+free+lunch+was+possible+and+a+new+economic+paradigm+had+arrived.+But+we%E2%80%99ve+heard+that+one+before+%E2%80%94+like+the+philosopher%E2%80%99s+stone+that+could+turn+lead+into+gold.+Prosperity+without+work+is+a+dream+of+the+ages.%0A&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F14785%2FRon_Paul_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=87083&author=Friedrich August Von Hayek"e=Q.+%5BMcCallum%5D+..+are+there+other+economists+who+have+had+a+really+major+influence+on+your+thinking%3F+A.+%5BMelzer%5D+Well+I+mentioned+Hayek.+There+are+two+ways.+One+is+because+of+my+interest+in+political+economy.+The+other+way+is+that+Hayek+was+a+pioneer+in+the+use+of+information+in+economics.+One+of+the+papers+that+Karl+and+I+wrote+together+that+I+continue+to+like+was+a+paper+called+%22The+Uses+of+Money%22.+In+that+paper+we+tried+to+incorporate+information+and+the+cost+of+information+to+explain+why+people+use+money.+One+of+Hayek%27s+most+basic+ideas+is+that+institutions+are+a+way+of+reducing+uncertainty.+Man+struggles+to+find+institutional+arrangements+which+on+average+make+life+a+bit+more+predictable.+Our+%22Uses+of+Money%22+is+not+so+much+about+money+as+we+conventionally+think+about+it%2C+it%27s+about+the+idea+of+a+medium+of+exchange%2C+the+function+of+an+institution+called+the+medium+of+exchange+and+how+the+medium+of+exchange+as+an+institution+resolves+a+part+of+peoples+uncertainty+about+the+future.%0A&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F6074%2FFriedrich+August+Von_Hayek_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=9538&author=Noam Chomsky"e=++Unlimited+economic+growth+has+the+marvelous+quality+of+stilling+discontent+while+maintaining+privilege%2C+a+fact+that+has+not+gone+unnoticed+among+liberal+economists.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F19%2FNoam+Chomsky_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=4273&author=Thomas Carlyle"e=++No+violent+extreme+endures.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F111%2FThomas+Carlyle_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=4282&author=Friedrich Nietzsche"e=++Extreme+positions+are+not+succeeded+by+moderate+ones%2C+but+by+contrary+extreme+positions.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F21%2FFriedrich+Wilhelm_Nietzsche_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=4275&author=Quentin Crisp"e=++This+woman+did+not+fly+to+extremes%3B+she+lived+there.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F320%2FQuentin_Crisp_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=4278&author=Bishop Hall"e=++Nothing+fools+people+as+much+as+extreme+passion.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F979%2FBishop+Hall_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=4281&author=Reinhold Niebuhr"e=++Our+age+knows+nothing+but+reaction%2C+and+leaps+from+one+extreme+to+another.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F985%2FReinhold+Niebuhr_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=93938&author=Thomas Kyd"e=Thus+must+we+toil+in+other+men%27s+extremes%2C%0AThat+know+not+how+to+remedy+our+own.%0A&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F14375%2FThomas+Kyd_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=64940&author=John Kenneth Galbraith"e=If+all+else+fails%2C+immortality+can+always+be+assured+by+spectacular+error.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F8153%2FJohn+Kenneth_Galbraith_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=6017&author=John Kenneth Galbraith"e=++More+die+in+the+United+States+from+too+much+food+that+from+too+little.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F8153%2FJohn+Kenneth_Galbraith_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=47316&author=John Kenneth Galbraith"e=The+conventional+view+serves+to+protect+us+from+the+painful+job+of+thinking.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F8153%2FJohn+Kenneth_Galbraith_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=47317&author=John Kenneth Galbraith"e=Washington+is+a+place+where+people+praise+courage+and+act+on+elaborate+personal+cost-benefit+calculations.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F8153%2FJohn+Kenneth_Galbraith_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=18158&author=John Kenneth Galbraith"e=++Meetings+are+indispensable+when+you+don%27t+want+to+do+anything.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F8153%2FJohn+Kenneth_Galbraith_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=47320&author=John Kenneth Galbraith"e=A+person+buying+ordinary+products+in+a+supermarket+is+in+touch+with+his+deepest+emotions.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F8153%2FJohn+Kenneth_Galbraith_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=47319&author=John Kenneth Galbraith"e=Few+people+at+the+beginning+of+the+ninteenth+century+needed+an+adman+to+tell+them+what+they+wanted.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F8153%2FJohn+Kenneth_Galbraith_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=47322&author=John Kenneth Galbraith"e=Technology+means+the+systematic+application+of+scientific+or+other+organized+knowledge+to+practical+tasks.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F8153%2FJohn+Kenneth_Galbraith_64x64.png){kind=link}
![Powerpoint](http://www.iwise.com/downloadPPT.php?quote_id=63163&author=John Kenneth Galbraith"e=The+only+function+of+economic+forecasting+is+to+make+astrology+look+respectable.&image=http%3A%2F%2Fwww.iwise.com%2FauthorIcons%2F8153%2FJohn+Kenneth_Galbraith_64x64.png){kind=link}