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
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.
In practice
In a lecture about economic theories, one could use this quote to challenge conventional thinking.
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.
If all else fails, immortality can always be assured by spectacular error.
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.
All successful revolutions are the kicking in of a rotten door.
Money differs from an automobile or mistress in being equally important to those who have it and those who do not.
People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.
I think one of the most important facts of basic income would be that it's not only a redistribution of income, but also of power. So the cleaners and bin men would have a lot more bargaining power.
Governments must commit to sound economic and financial policies. This is how we ensure reform in the euro area - and our independence.
Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hit man.
The value of a thing is the amount of laboring or work that its possession will save the possessor.
Microfinance recognizes that poor people are remarkable reservoirs of energy and knowledge, posing an untapped opportunity to create markets, bring people in from the margins and give them the tools with which to help themselves.
The black market was a way of getting around government controls. It was a way of enabling the free market to work. It was a way of opening up, enabling people.
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