Politics is the art of choosing between the disastrous and the unpalatable.
But it can be laid down as a rule that those who speak most of liberty are least inclined to use it.
Partly, the Russian system succeeds because, in contrast to the Western industrial economies, it makes full use of its manpower.
In economics, hope and faith coexist with great scientific pretension and also a deep desire for respectability.
Few economic problems, if any, are difficult of solution. The difficulty, all but invariably, is in confronting them. We know what needs to be done; for reasons of inertia, pecuniary interest, passion or ignorance, we do not wish to say so.
Those who yearn for the end of capitalism should pray for government by men who believe that all positive action is inimical to what they call thoughtfully the fundamental principles of free enterprise.
Where humor is concerned there are no standards - no one can say what is good or bad, although you can be sure that everyone will.
One man's consumption becomes his neighbor's wish.
All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership.
The accepted ideas of any period are singularly those that serve the dominant economic interest...What economists believe and teach, whether in the United States or in the Soviet Union, is rarely hostile to the institutions - the private business enterprise, the Communist Party - that reflect the do
There's a certain part of the contented majority who love anybody who is worth a billion dollars.
Were it part of our everyday education and comment that the corporation is an instrument for the exercise of power, that it belongs to the process by which we are governed, there would then be debate on how that power is used and how it might be made subordinate to the public will and need. This deb
There are a significant number of learned men and women who hold that any successful effort to make ideas lively, intelligible and interesting is a manifestation of deficient scholarship. This is the fortress behind which the minimally coherent regularly find refuge.
No grant of feudal privilege has ever equaled, for effortless return, that of the grandparent who bought and endowed his descendants with a thousand shares of General Motors or General Electric.
That one never need to look beyond the love of money for explanation of human behavior is one of the most jealously guarded simplification of our culture.
There are times in politics when you must be on the right side and lose.
Technology, under all circumstances, leads to planning; in its higher manifestations it may put the problems of planning beyond the reach of the industrial firm. Technological compulsions, and not ideology or political will, will require the firm to seek the help and protection of the state.
The miserable consumption of the poor is partly the result of the ostentatious demands of the rich. There isn't enough for both, and the latter get far more than they need...But could anything seriously be done about it?
Let's begin with capitalism, a word that has gone largely out of fashion. The approved reference now is to the market system. This shift minimizes-indeed, deletes-the role of wealth in the economic and social system. And it sheds the adverse connotation going back to Marx. Instead of the owners of c
We do not manufacture wants for goods we do not produce.
Unemployment is rarely considered desirable except by those who have not experienced it.
Power is not something that can be assumed or discarded at will like underwear. John Kenneth Galbrait
And there was a deeper, less visible effect of the Truman loyalty program. Seeing its consequences for certain individuals and fearing its intrusion on their own lives, many in the government sought protection by strongly asserting their anti-Communism. In the public action that ensued, policy was b
The complaints of the privileged are too often confused with the voice of the masses.
Only foolish people are completely secure.
In all modern depressions, recessions, or growth-correction, as variously they are called, we never miss the goods that are not produced. We miss only the opportunities for the labour - for the jobs - that are not provided.
In economics, unlike fiction and the theater, there is no harm in a premature disclosure of the plot: it is to see the changes just mentioned and others as an interlocked whole.
We now in the United States have more security guards for the rich than we have police services for the poor districts. If you're looking for personal security, far better to move to the suburbs than to pay taxes in New York.
It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.
In the usual (though certainly not in every) public decision on economic policy, the choice is between courses that are almost equally good or equally bad. It is the narrowest decisions that are most ardently debated.