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
If you feed enough oats to the horse, some will pass through to feed the sparrows (referring to "trickle down" economics).
Interpretation
What this quote means
The quote suggests that the benefits provided to the wealthy can eventually benefit those who are less fortunate.
John Kenneth Galbraith uses this metaphor to critique the idea of 'trickle-down' economics, arguing that while resources may be allocated to the wealthy, the benefits often do not reach those in need as effectively as proponents suggest. The image of feeding oats to a horse highlights the assumption that if the rich are nourished, the excess will trickle down to help the poor, but in reality, this process is often inadequate and leads to inequality.
Themes
EconomicsWealthInequalityTrickle DownPoverty
In practice
Example use cases
During a debate on economic policy, one might use this quote to discuss the limitations of trickle-down economics.
More from John Kenneth Galbraith
All quotes βIf all else fails, immortality can always be assured by spectacular error.
John Kenneth GalbraithRead
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.
John Kenneth GalbraithRead
All successful revolutions are the kicking in of a rotten door.
John Kenneth GalbraithRead
Money differs from an automobile or mistress in being equally important to those who have it and those who do not.
John Kenneth GalbraithRead
People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.
John Kenneth GalbraithRead
Similar quotes
My premise is not to tax to destroy the wealth of the wealthy; it's to increase the wealth of the bottom and the middle class.
Thomas PikettyRead
Income inequality is troubling because, among other things, it means that many people in our society don't have the opportunities to advance themselves.
Ben BernankeRead
Prosperity cannot be restored by raids upon the public Treasury.
Herbert HooverRead
Just as we should never balance the budget on the backs of the poor, so it is an economic delusion to think you can balance it only on the wallets of the rich.
George OsborneRead
In a mature economy like India's, which is becoming modern and a financially-oriented economy, an independent central bank, responsible central bank, is really central to success.
Ben BernankeRead
The true law of economics is chance, and we learned people arbitrarily seize on a few moments and establish them as laws.
Karl MarxRead