Famous quote by John Kenneth Galbraith

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We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little mo
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"We can safely abandon the doctrine of the eighties, namely that the rich were not working because they had too little money, the poor because they had much"

- John Kenneth Galbraith

About this Quote

John Kenneth Galbraith's quote is referring to the economic doctrine of the 1980s, which suggested that the wealthy were not working due to the fact that they had too little cash, and the poor were not working since they had excessive. This teaching was based upon the idea that the rich had adequate cash to live comfortably and did not require to work, while the bad had excessive cash to be motivated to work. Galbraith is suggesting that this teaching is no longer valid and should be deserted. He is arguing that the wealthy ought to be motivated to work, as their wealth must not be seen as a barrier to employment. Similarly, the bad must be offered the chance to work, as their absence of money must not be seen as a deterrent. Galbraith's quote is a tip that economic policies ought to be based on the concept that everyone ought to have the opportunity to work, despite their wealth or poverty.

About the Author

USA Flag This quote is written / told by John Kenneth Galbraith between October 15, 1908 and April 29, 2006. He/she was a famous Economist from USA. The author also have 47 other quotes.

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