The shortcomings of economics are not original error but uncorrected obsolescence. The obsolescence has occurred because what is … - John Kenneth Galbraith

Same topic Authors

Quote of the day

I used to get out of bed sometimes and feel depressed and watched a lot of reruns on TV to get over it. I should have allowed myself to be a little more human and not worry about trying to be a superwoman.

John Kenneth Galbraith

The shortcomings of economics are not original error but uncorrected obsolescence. The obsolescence has occurred because what is convenient has become sacrosanct. Anyone who attacks such ideas must seem to be a trifle self-confident and even aggressive. The man who makes his entry by leaning against an infirm door gets an unjustified reputation for violence. Something is to be attributed to the poor state of the door.

Errors, Ideas, Men, Reputation, Unjustified

Same Author Quotes

The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness.

Conservative, Honesty, Integrity, Moral, Philosophy, Selfishness

Under capitalism, man exploits man. Under communism, it's just the opposite.

Capitalism, Communism, Exploits, Funny, Men, Witty

Mr. David Stockman has said that supply-side economics was merely a cover for the trickle-down approach to economic policy—what an older and less elegant generation called the horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.

Feed, Horse, Oats, Sides, Theory

Meetings are a great trap. Soon you find yourself trying to get agreement and then the people who disagree come to think they have a right to be persuaded. However, they are indispensable when you don't want to do anything.

Agreement, Indispensable, Meetings, People, Right, Thinking

There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.

Forecasters, Investing, Kind, Kinds, Know, Two