A Quote by John Kenneth Galbraith

It had been held that the economic system, any capitalist system, found its equilibrium at full employment. Left to itself, it was thus that it came to rest. Idle men and idle plant were an aberration, a wholly temporary failing. Keynes showed that the modern economy could as well find its equilibrium with continuing, serious unemployment. Its perfectly normal tendency was to what economists have since come to call an underemployment equilibrium.

John Kenneth Galbraith

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Aberration Any Been Call Came Capitalist Come Continuing Could Economic Economic System Economists Economy Employment Equilibrium Failing Find Found Full Had Held Idle Itself Keynes Left Men Modern Normal Perfectly Perfectly Normal Plant Rest Serious Since System Temporary Tendency Thus Underemployment Unemployment Well Were Wholly

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

The entropy of an isolated system not in equilibrium will tend to increase over time, approaching a maximum value at equilibrium.

Rudolf Clausius

An economy may be in equilibrium from a short-period point of view and yet contain within itself incompatibilities that are soon going to knock it out of equilibrium.

Joan Robinson

We know, in other words, the general conditions in which what we call, somewhat misleadingly, an equilibrium will establish itself: but we never know what the particular prices or wages are which would exist if the market were to bring about such an equilibrium.

Friedrich August von Hayek

Systems don't change easily. Systems try to maintain themselves, and seek equilibrium. To change a system, you need to shake it up, disrupt the equilibrium. That often requires conflict.

Starhawk

The clarification of equilibrium through plastic art is of great importance for humanity. It reveals that although human life in time is doomed to disequilibrium, notwithstanding this, it is based on equilibrium. It demonstrates that equilibrium can become more and more living in us.

Piet Mondrian

Any international system must have two key elements for it to work. One, it has to have a certain equilibrium of power that makes overthrowing the system difficult and costly. Secondly, it has to have a sense of legitimacy.

Henry A. Kissinger

The major driver of economics is the equilibrium approach, which has taken various forms over the years. General equilibrium is the statement that all the different parts of the economy influence each other, even if it's remote, like mortgage-backed securities and their demands on automobiles.

Kenneth Arrow

The equilibrium between supply and demand is achieved only through a reaction against the upsetting of the equilibrium.

David Harvey

Entrenched customs represent a social equilibrium, and moving away from that equilibrium is difficult to do on your own.

Megan McArdle

The eurozone status quo is neither tolerable nor stable. Mainstream economists would call it an inferior equilibrium; I call it a nightmare - one that is inflicting tremendous pain and suffering that could be easily avoided if the misconceptions and taboos that sustain it were dispelled.

George Soros

Capitalism is very far from a perfect system, but so far we have yet to find anything that clearly does a better job of meeting human needs than a regulated capitalist economy coupled with a welfare and health care system that meets the basic needs of those who do not thrive in the capitalist economy. If we ever do find a better system, I'll be happy to call myself an anti-capitalist.

Peter Singer

For the keynote of the law of Karma is equilibrium, and nature is always working to restore that equilibrium whenever through man's acts it is disturbed.

Christmas Humphreys

God is action, complete with mistakes, fumblings, persistence, agony. God is not the power that has found eternal equilibrium, but the power that is forever breaking every equilibrium, forever searching for a higher one.

Nikos Kazantzakis

It has been the struggle between privileged men who have managed to get hold of the levers of power and the people in general withtheir vague and changing aspirations for equality, for justice, for some kind of gentler brotherhood and peace, which has kept that balance of forces we call our system of government in equilibrium.

John Dos Passos

Moral Education is the source of that spiritual equilibrium on which everything else depends and which may be compared to that physical equilibrium or sense of balance, without which it is impossible to stand upright or to move into any other position.

Maria Montessori

Good and evil grow up together and are bound in an equilibrium that cannot be sundered. The most we can do is try to tilt the equilibrium toward the good.

Eric Hoffer

A Quote by John Kenneth Galbraith

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