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I react pragmatically. Where the market works, I'm for that. Where the government is necessary, I'm for that. I'm deeply suspicious of somebody who says, 'I'm in favor of privatization,' or, 'I'm deeply in favor of public ownership.' I'm in favor of whatever works in the particular case.
John Kenneth Galbraith
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Interpretation

What this quote means

The quote emphasizes a pragmatic approach to economic systems, valuing effectiveness over ideology.

John Kenneth Galbraith's quote highlights the importance of pragmatism in economic thought, suggesting that one should not adhere strictly to ideologies such as privatization or public ownership. Instead, he advocates for a flexible approach that prioritizes what actually works in a given situation, reflecting a stance that values results over rigid beliefs.

Themes

PragmatismEconomicsFlexibilityIdeologyEffectiveness

In practice

Example use cases

This quote can be used in a business presentation to emphasize the importance of adaptability in strategy.

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