A Quote by John Kenneth Galbraith

The problem of the modern economy is not a failure of a knowledge of economics; it's a failure of a knowledge of history.

John Kenneth Galbraith

Quote Topics

Economics Economy Failure History Knowledge Modern Problem

Quote Author

John Kenneth Galbraith
American - Economist
October 15, 1908 - April 29, 2006

In India there was a sense of time that does not tick with modern clocks, just as there is a knowledge that is not gained through science and empirical experiments. In the modern West knowledge is of objective, finite particulars in historical time. India recognizes that kind of useful information: it calls it "lower knowledge." Higher knowledge (paravidya) proceeds differently, or rather it doesn't proceed at all but enters history full-blown on the morning of a new creation.

Huston Smith

Failure is knowledge, and knowledge is success.

Mahira Khan

But in fact as knowledge expands globally it is being lost locally. This is the paramount truth of the modern history of rural places everywhere in the world. And it is the gravest problem of land use: Modern humans typically are using places whose nature they have never known and whose history they have forgotten; thus ignorant, they almost necessarily abuse what they use.

Wendell Berry

Failure isn't a problem. It's the fear of failure that's the limiting factor. You can't lose your nerve for the big failure, because it's the exact same nerve you need for the big success.

Regina E. Dugan

You must know all there is to know in your particular field and keep on the alert for new knowledge. The least difference in knowledge between you and another man may spell his success and your failure.

Henry Ford

The failure of modern evangelicalism is the failure to understand the holiness of God.

R. C. Sproul

The knowledge we now consider knowledge proves itself in action. What we now mean by knowledge is information effective in action, information focused on results. Results are outside the person, in society and economy, or in the advancement of knowledge itself. To accomplish anything this knowledge has to be highly specialized.

Peter Drucker

Surely knowledge of the natural world, knowledge of the human condition, knowledge of the nature and dynamics of society, knowledge of the past so that one may use it in experiencing the present and aspiring to the future--all of these, it would seem reasonable to suppose, are essential to an educated man. To these must be added another--knowledge of the products of our artistic heritage that mark the history of our esthetic wonder and delight.

Jerome Bruner

What a shame to be so afraid of failure that you stop living. My wife has a great one-liner about failure: "Never consider yourself a failure-you can always serve as a bad example." She is right. Failure can be a better teacher than success.

Bernie Siegel

Failure is part of discovering the problem you need to be working on. If, as an entrepreneur, you are afraid to fail or to admit the failure of your efforts, then you completely lose any chance at being able to adapt and succeed at finding the problem that needs solving.

Caterina Fake

At the heart of capitalism is the unification of knowledge and power. As Friedrich Hayek, the leader of the Austrian school of economics, put it, "To assume all the knowledge to be given to a single mind... is to disregard everything that is important and significant in the real world." Because knowledge is dispersed, power must be as well.

George Gilder

Cultivate your desire for success to be greater than the fear of failure; Failure is merely a pitstop between where you stand and success. Failure allows you to learn the fastest; Failure inspires winners and defeats losers.

Fran Tarkenton

Failure is information-we label it failure, but it's more like, 'This didn't work, I'm a problem solver, and I'll try something else.'

Carol S. Dweck

The Great Depression was not a sign of the failure of monetary policy or a result of the failure of the market system as was widely interpreted. It was instead a consequence of a very serious government failure, in particular a failure in the monetary authorities to do what they'd initially been set up to do.