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April 23, 2006
LBJ on Ee-co-nomics
Thanks to Arnold Kling for pointing out this Robert Skidelsky review of Richard Parker's new book, John Kenneth Galbraith: His Life, His Politics, His Economics (Farrar, Straus 2005), which contains the following earthy observation on economics from the late Lyndon B. Johnson, made to Galbraith while Johnson was throwing away a Galbraith-authored draft of a speech:
"Did y’ever think, Ken, that making a speech on ee-co-nomics is a lot like pissing down your leg? It seems hot to you, but it never does to anyone else."
Posted by Tom at April 23, 2006 6:29 AM
Comments
Good stuff. Part of me has always wanted to support LBJ out of loyalty and just to be contrary to all the yankees. But he sure screwed some things up.
Posted by: john p. at May 3, 2006 2:28 PM
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