Quotes by John Kenneth Galbraith - Page 9

Then came the second Amsterdam discovery, although the principle was known elsewhere. Bank deposits...did not need to be left idly in the bank. They could be lent. The bank then got interest. The borrower then had a deposit that he could spend. But the original deposit still stood to the credit of the original depositor. That too could be spent. Money, spendable money, had been created. Let no one rub his or her eyes. It's still being done-every day. The creation of money by a bank is as simple as this, so simple, I've often said, that the mind is slightly repelled.
John Kenneth Galbraith / Economist
Discovery
Eye
Simple
Copy Quote
Even in such a time of madness as the late twenties, a great many man in Wall Street remained quite sane. But they also remained very quiet. The sense of responsibility in the financial community for the community as a whole is not small. It is nearly nil. Perhaps this is inherent. In a community where the primary concern is making money, one of the necessary rules is to live and let live. To speak out against madness may be to ruin those who have succumbed to it. So the wise in Wall Street are nearly always silent. The foolish thus have the field to themselves. None rebukes them.
John Kenneth Galbraith / Economist
Wise
Men
Responsibility
Wall
Copy Quote
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 based not on reality but, instinctively or deliberately, on personal caution...Those who urged a militant and sometimes military anti-Communism were considered sound, trustworthy and personally safe; those who questioned such a course were politically unsafe, possible even slightly disloyal.
John Kenneth Galbraith / Economist
Loyalty
Military
Reality
Copy Quote

Related Economist Authors

Thomas Sowell
Economist
Monday, Jun 30, 1930
William Stanley Jevons
Economist
Tuesday, Sep 01, 1835
Sunday, Aug 13, 1882
William Petty
Economist
Friday, May 26, 1623
Tuesday, Dec 16, 1687
William Forsyth Sharpe
Economist
Saturday, Jun 16, 1934
William Easterly
Economist
Saturday, Sep 07, 1957
William Beveridge
Economist
Wednesday, Mar 05, 1879
Saturday, Mar 16, 1963
William A. Niskanen
Economist
Monday, Mar 13, 1933
Wednesday, Oct 26, 2011
Willem Buiter
Economist
Monday, Sep 26, 1949
Will Hutton
Economist
Sunday, May 21, 1950
Werner Sombart
Economist
Monday, Jan 19, 1863
Sunday, May 18, 1941
Wassily Leontief
Economist
Sunday, Aug 05, 1906
Friday, Feb 05, 1999
Wang Anshi
Economist
Saturday, Dec 08, 1021
Friday, May 21, 1086
Walter Heller
Economist
Friday, Aug 27, 1915
Monday, Jun 15, 1987
Walter E. Williams
Economist
Tuesday, Jun 30, 1936
Walter Block
Economist
Thursday, Aug 21, 1941

View All Economist Quotes

Top Authors

Napoleon Bonaparte
Military Commander
Tuesday, Aug 15, 1769
Saturday, May 05, 1821
Isaac Newton
Physicist
Sunday, Jan 04, 1643
Monday, Mar 31, 1727
Albert Camus
Author
Friday, Nov 07, 1913
Monday, Jan 04, 1960
Thomas Sowell
Economist
Monday, Jun 30, 1930
Epictetus
Philosopher
Zig Ziglar
Author
Saturday, Nov 06, 1926
Wednesday, Nov 28, 2012
Samuel Taylor Coleridge
Poet
Wednesday, Oct 21, 1772
Friday, Jul 25, 1834
Elon Musk
Investor
Monday, Jun 28, 1971
Maya Angelou
Author
Wednesday, Apr 04, 1928
Wednesday, May 28, 2014
Chanakya
Teacher
Thursday, Jan 01, 1970
Thursday, Jan 01, 1970
Carl Jung
Psychiatrist
Monday, Jul 26, 1875
Tuesday, Jun 06, 1961
Walt Disney
Animator
Thursday, Dec 05, 1901
Thursday, Dec 15, 1966
Ernest Hemingway
Author
Friday, Jul 21, 1899
Sunday, Jul 02, 1961
Charles Spurgeon
Preacher
Thursday, Jun 19, 1834
Sunday, Jan 31, 1892
Nelson Mandela
Former President Of South Africa
Thursday, Jul 18, 1918
Thursday, Dec 05, 2013

View All Authors

John Kenneth Galbraith Quotes - Page 9

Picture Quotes Maker

Related Economist Authors

Popular Topic Tags

Top Authors

Share This Page

Stay Connected

Picture Quotes Maker

Related Economist Authors

Popular Topic Tags

Top Authors

Share This Page