“Moreover, regulatory bodies, like the people who comprise them, have a marked life cycle. In youth they are vigorous, aggressive, evangelistic, and even intolerant. Later they mellow, and in old age — after a matter of ten or fifteen years — they become, with some exceptions, either an arm of the industry they are regulating or senile.”
Chapter VIII https://openlibrary.org/books/OL25728842M/The_Great_Crash_1929, Aftermath II, Section VI, p 165
The Great Crash, 1929 (1954 and 1997 https://openlibrary.org/books/OL25728842M/The_Great_Crash_1929)
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John Kenneth Galbraith 207
American economist and diplomat 1908–2006Related quotes

“Anyone who claimed that old age had brought them patience was either lying or senile.”
The Complete Neurotic's Notebook (1981), Unclassified

“Old age is always fifteen years older than I am.”
Actually by financier Bernard Baruch.
Misattributed

“To me, old age is always fifteen years older than I am.”
On his 85th birthday, as quoted in The Observer [London] (21 August 1955)
Source: Love Invents Us
Source: Quartered Safe Out Here (1992), p. 195.