One of the little-celebrated powers of Presidents (and other high government officials) is to listen to their critics with just enough sympathy to ensure their silence.
John Kenneth GalbraithRead
It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.
Interpretation
What this quote means
The quote emphasizes that viewing the economy as fixed and unchanging is a significant mistake.
John Kenneth Galbraith argues that perceiving the economy as a stable and unchanging entity is a major flaw in economic thought. He suggests that the economy is in fact dynamic, influenced by human behavior, societal changes, and various external factors, and should be viewed as fluid rather than rigid.
Themes
EconomyErrorStructureChangeBelief
In practice
Example use cases
In a lecture about economic theories, one could use this quote to challenge conventional thinking.
More from John Kenneth Galbraith
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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.
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All successful revolutions are the kicking in of a rotten door.
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Money differs from an automobile or mistress in being equally important to those who have it and those who do not.
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People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.
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