The process by which wants are now synthesized is a potential source of economic instability. Production and therewith employment and social security… - John Kenneth Galbraith

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The process by which wants are now synthesized is a potential source of economic instability. Production and therewith employment and social security are dependent on an inherently unstable process of consumer debt creation. This may one day falter.

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About John Kenneth Galbraith

John Kenneth Galbraith (15 October 1908 – 29 April 2006) was a Canadian-American economist and author.

Biography information from Wikiquote

Also Known As

Alternative Names: John K. Galbraith John Galbraith J. K. Galbraith Ken Galbraith
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As protection against financial illusion or insanity, memory is far better than laws...For protecting people from the cupidity of others and their own, history is highly utilitarian. It sustains memory, and memory serves the same purpose as the SEC, and on the record is far more effective

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I would now, however, more strongly emphasize, and especially as to the United States, the inequality in income and that it is getting worse — that the poor remain poor and the command of income by those in the top income brackets is increasing egregiously. So is the political eloquence and power by which that income is defended. This I did not foresee.

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