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.
John Kenneth Galbraith (15 October 1908 – 29 April 2006) was a Canadian-American economist and author.
Biography information from
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Wikimedia Commons, Published by Houghton Mifflin Company. Photographer is unknown. (Public domain / CC0)
Also Known As
Alternative Names:
John K. Galbraith
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John Galbraith
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J. K. Galbraith
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Ken Galbraith
Portrait from Wikimedia Commons. Credit: Published by Houghton Mifflin Company. Photographer is unknown.. Used under Public domain / CC0. Processed and styled by Quotewise.
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The inevitable counterpart of specialization is organization. This is what brings the work of specialists to a coherent result. If there are many specialists, this coordination will be a major task. So complex, indeed, will be the job of organizing specialists that there will be specialists on organization and organizations of specialists on organization. More perhaps than machinery, massive and complex business organizations are the tangible manifestation of advanced technology.
One of the uses of depression is the exposure of what auditors fail to find.
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