A Quote by John Kenneth Galbraith
The oldest problem in economic education is how to exclude the incompetent. A certain glib mastery of verbiage-the ability to speak portentously and sententiously about the relation of money supply to the price level-is easy for the unlearned and may even be aided by a mildly enfeebled intellect. The requirement that there be ability to master difficult models, including ones for which mathematical competence is required, is a highly useful screening device.
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Wealth brings noble opportunities, and competence is a proper object of pursuit; but wealth, and even competence, may be bought at too high a price. Wealth itself has no moral attribute. It is not money, but the love of money, which is the root of all evil. It is the relation between wealth and the mind and the character of its possessor which is the essential thing.
When man has mastered money he shall have mastered not only his economic problem of prosperity but also his political problem, for he will see that money has no place in state functions, and, the money power being entirely in his own hands, he will easily master the state and clearly define its services. Thus money must be seen as the means of mastery of all economic and political problems. Until we have mastered money we shall not master any of our problems. Not money, but a false money system, is the root of all evil.
For many activities, people cannot rely solely on themselves in evaluating their ability level because such judgments require inferences from probabilistic indicants of talent about which they may have limited knowledge. Self-appraisals are, therefore, partly based on the opinions of others who presumably possess evaluative competence
The proper timing of an attacking plan is a difficult matter which places great strain on a player's nerves. Mastery of this art is required for success in the international arena, but perfect mastery eludes even the very best chessplayers!
Even when repressed, inequality grows; only the man who is below the average in economic ability desires equality; those who are conscious of superior ability desire freedom, and in the end superior ability has its way.
Musical ability is not an inborn talent but an ability which can be developed. Any child who is properly trained can develop musical ability just as all children develop the ability to speak their mother tongue. The potential of every child is unlimited.
We all have an unknown ability, which will probably remain unknown forever. And yet that ability can become our ally. Since it’s impossible to measure that ability or give it an economic value, it’s never taken seriously.
The end and goal of any society as it addresses the problem of education is to raise the ability, the initiative and the cultural level, and with all these the survival level of that society.
People will say things after a screening that it affects them in a certain way, which is why I don't like to explain what certain things are about. I want them to have that. It limits people's ability to understand something if I say it's "about this." That's happened to us a bunch on this.
If the system exhibits a structure which can be represented by a mathematical equivalent, called a mathematical model, and if the objective can be also so quantified, then some computational method may be evolved for choosing the best schedule of actions among alternatives. Such use of mathematical models is termed mathematical programming.
People should be highly sceptical of anyone's including their own, ability to predict the future, and instead pursue strategies that can survive whatever may occur.
Many persons think that by hoarding money they are gaining safety for themselves. If money is your only hope for independence, you will never have it. The only real security that a man can have in this world is a reserve of knowledge, experience, and ability. Without these qualities, money is practically useless. The security even of money depends on knowledge, experience, and ability. If productive ideas are displaced by destructive ideas, economic life suffers.
Our society constantly promotes role models for masculinity, from superheroes to politicians, where the concept of being a 'man' is based in their ability to be tough, dominant - and even violent when required.
In the 1940s, economics started getting highly mathematical. It was basically because economists weren't smart enough to write down models of real behavior that they started writing down models of highly rational behavior - and they kind of forgot about humans.
Economists who have studied the relationship between education and economic growth confirm what common sense suggests: The number of college degrees is not nearly as important as how well students develop cognitive skills, such as critical thinking and problem-solving ability.
The price of ability does not depend on merit but on supply and demand.
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