John Kenneth Galbraith

All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else is the essence of leadership.

The Great Crash 1929

Rampant speculation. Record trading volumes. Assets bought not because of their value but because the buyer believes he can sell them for more in a day or two, or an hour or two. Welcome to the late 1920s. There are obvious and absolute parallels to the great bull market of the late 1990s, writes Galbraith in a new introduction dated 1997. Of course, Galbraith notes, … [ Read more ]

John Kenneth Galbraith

Faced with the choice between changing one’s mind and proving that there is no need to do so, almost everybody gets busy on the proof.