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In fact, the wage-price spiral is the functional counterpart of unemployment. The latter occurs when there is insufficient demand; the spiral operates when there is too much and also,unfortunately, when there is just enough.

— John Kenneth Galbraith The New Industrial State (1967)

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More quotes by John Kenneth Galbraith

When you see reference to a new paradigm you should always, under all circumstances, take cover.

Wealth, in even the most improbable cases, manages to convey the aspect of intelligence.

It is my guiding confession that I believe the greatest error in economics is in seeing the economy as a stable, immutable structure.

A Journey Through Economic Time (1994)

American university presidents are a nervous breed; I have never thought well of them as a class.

The Age of Uncertainty (1977)

It is a far, far better thing to have a firm anchor in nonsense than to put out on the troubled seas of thought.

The Affluent Society (1958)

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Quote text and notes from Wikiquote: John Kenneth Galbraith (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.