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
Money differs from an automobile or mistress in being equally important to those who have it and those who do not.
Interpretation
What this quote means
Money is equally significant to both the rich and the poor; its importance transcends financial status.
This quote by John Kenneth Galbraith emphasizes the universal importance of money in society. Regardless of one's financial situation, the presence or absence of money affects people's lives in significant ways, revealing that money influences both the wealthy and those struggling financially.
Themes
MoneyImportanceEconomyWealthSociety
In practice
Example use cases
This quote could be used in a finance seminar to discuss the role of money in different socioeconomic classes.
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
People of privilege will always risk their complete destruction rather than surrender any material part of their advantage.
John Kenneth GalbraithRead
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 debate is avoided by propagating the myth that the power does not exist.
John Kenneth GalbraithRead
Similar quotes
COMMERCE, n. A kind of transaction in which A plunders from B the goods of C, and for compensation B picks the pocket of D of money belonging to E.
Ambrose BierceRead
The Reichswirtschaftsministerium ('Reich Ministry of Economic Affairs') tells the shop managers what and how to produce, at what prices and from whom to buy, at what prices and to whom to sell. It assigns every worker to his job and fixes his wages. It decrees to whom and on what terms the capitalists must entrust their funds. Market exchange is merely a sham.
Ludwig Von MisesRead
Good economic theory must give the people the chance to use their talents to build their own lives. We must get away from the traditional route where the rich will do the business and the poor will depend on private or public charity.
Muhammad YunusRead
Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes a bubble on a whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill done.
John Maynard KeynesRead
European officials thought that austerity was part of what they called their 'convergence policies,' of trying to bring countries together. Instead, it actually made things worse. There's more inequality within countries and more disparity across countries.
Joseph StiglitzRead
The problem is this. The spread of markets outpaces the ability of societies and their political systems to adjust to them, let alone to guide the course they take
Kofi AnnanRead