"Among all the world's races, some obscure Bedouin tribes possibly apart, Americans are the most prone to misinformation. This is not the consequence of any special preference for mendacity, although at the higher levels of their public administration that tendency is impressive. It is rather that so much of what they themselves believe is wrong."
--John Kenneth Galbraith
Bonus Galbraith:
"Economics is extremely useful as a form of employment for economists."
He had wit which is lucky given how many things that he was wrong about.
ReplyDeleteMy favorite comment on Galbraith is by his biographer, Parker, who concedes that some of Galbraith's success and fame may have resulted from his Harvard contacts. Having JFK in your undergrad class can't hurt.
So economics is not a good job. OK.
ReplyDelete