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To the man who held stock on margin, disaster had only one face and that was falling prices. But now prices were to be allowed to fall. The speculator's only comfort, henceforth, was that his ruin would be accomplished in an orderly and becoming manner.

— John Kenneth Galbraith The Great Crash, 1929 (1954)

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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.