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 John Kenneth Galbraith

There is something wonderful in seeing a wrong-headed majority assailed by truth.
John Kenneth Galbraith
John Kenneth Galbraith
John Kenneth Galbraith
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updated Wed. September 15, 2021

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I cannot but help think about Harvard economist John Kenneth Galbraith's concept of "countervailing power". Facebook's vast data trove on the personal lives of 2 billion human beings makes it a digital advertising colossus (with Google) but also a symbol of populist resentment and angst over data privacy ...
Francine got me the Harvard stringer's job and gave me my assignments, which often involved calling John Kenneth Galbraith to ask him if the West was in decline. I collaborated on a piece about campus humor with the Yale stringer, Jane Mayer.” Read her Playbook Plus Q&A: http://politi.co/2ppvqCy.

It's a common trick among modern conservatives, first noted by economist John Kenneth Galbraith: “The search for a superior moral justification for selfishness.” It's the art of wrapping that hard little kernel of greed in a thin foil of altruism. For many Republicans, human-caused climate change is a vast liberal ...
He was a tax cutter who reportedly told liberal economist John Kenneth Galbraith to "shut up" and stop arguing with him about tax cuts and called Albert Gore Sr. a "son of a…" for politically opposing them. Regarding his tax cuts he stated, "This administration intends to cut taxes in order to build the ...
Franklin D Roosevelt and, later, John Kenneth Galbraith, advocated for a “new nationalism” that anchored political power in federal institutions like the National Labor Board. In Great Britain, notions of a national community appeared in the Chartist quest for political rights in the 1840s as well as in Clement ...
It was under the guidance of economist John Kenneth Galbraith the IIT Kanpur became the first institute in India to offer Computer Science education. Located on the Grand Trunk Road, 15 km west of Kanpur city, the institute houses around 6478 students with 3938 undergraduate students and 2540 ...

John Kenneth Galbraith. My fake plants died because I did not pretend to water them. - Mitch Hedberg. Obsolescence never meant the end of anything, it's just the beginning. - Marshall McLuhan. What is great in man is that he is a bridge and not a goal. - Friedrich Nietzsche. Values are like fingerprints.
In the 1960s and early '70s, basic-income-style proposals seemed obvious enough that they found advocates like Martin Luther King, Jr., and Milton Friedman, John Kenneth Galbraith and Margaret Mead, Buckminster Fuller and Friedrich Hayek, George McGovern and Richard Nixon. Governments conducted detailed trials, ...
As John Kenneth Galbraith noted in A Short History of Financial Euphoria (1990), “all sensible people should circle the wagons” at such a time. No less eminent a figure than Alan Greenspan has reminded us that virtually all professional forecasters—including Greenpan himself—missed the warning signs ...
The same aspects of it are constantly repeated, whether by casual tweeters or in widely read economics textbooks by luminaries such as John Kenneth Galbraith. Tulip mania was irrational, the story goes. Tulip mania was a frenzy. Everyone in the Netherlands was involved, from chimney-sweeps to ...
The notion that corporations will pass these cuts to employees in the form of wage and salary increases is an assumption that has been debunked. The beneficiaries have been stockholders in the form of dividends, not the workers. In closing, I'd like to quote the economist John Kenneth Galbraith. He noted ...
The Great Crash 1929 by John Kenneth Galbraith centres on the causes and consequences of the great stock market crash. A 'classic account of financial disaster' may not sound like everyone's cup of tea but it is compelling evidence for the theory that history repeats itself. It's a pity many more people in ...
“In a recent TV appearance, Mike Pesca, sports reporter and journalist, repeated a humorous punchline about the ongoing divorce between the Republican and Democratic parties: 'It is ironic that, when the dust settles, it looks like the Democrats will get football.' I would have responded, 'You know what's ...
The same aspects of it are constantly repeated, whether by casual tweeters or in widely read economics textbooks by luminaries such as John Kenneth Galbraith. Tulip mania was irrational, the story goes. Tulip mania was a frenzy. Everyone in the Netherlands was involved, from chimney sweeps to ...
John Kenneth Galbraith said that the only function of economic forecasting was to make astrology look respectable. And on our Letters page last week, Sir Gordon Downey, a former Treasury official, recalled the urging of 364 economists in 1981 that Sir Geoffrey Howe, then chancellor, change course: “It ...
William F. Buckley 's best friend was John Kenneth Galbraith. They agreed about nothing but skiing and wine. My Dad's best friend was Bill Timmons who thought Roosevelt ruined the country. Dad believed he saved it. They saw nothing eye to eye. We have to get comfortable with gray again; with a lack of ...
Well, while it's true, to paraphrase John Kenneth Galbraith, that the only function of market commentary is to make astrology look respectable, there are at least a few things we can say for sure. The first, and most important, is that the initial impetus for the drop in stock was a rise in wages. Markets, you see ...

As I once heard the famous economics professor John Kenneth Galbraith say, there are two kinds of economists, those who don't know the future, and those who don't know they don't know. And as another famous economist, Paul Samuelson, once said, the stock market has correctly forecast nine of the ...
As John Kenneth Galbraith famously noted in his book The Great Crash, the simple invocation of "strong fundamentals" itself bodes deeply ill. It's what business conservatives always say before the bottom falls out from under everything. It's what John McCain said in 2008, and it's what Irving Fisher said in ...
In “The Culture of Contentment” — first published in 1992 — the economist (and my father) John Kenneth Galbraith ventured that the broad middle classes created by the New Deal had voted for Ronald Reagan and the elder George Bush precisely because the compelling needs that had driven them to ...
During my time as an AP teacher, students were required to read conservative and liberal political economists such as Milton Friedman's Free to Choose and John Kenneth Galbraith's The Age of Uncertainty. These works and related readings required students to use point-counterpoint arguments from ...
“Even the most circumspect friend of the market would concede that the volume of brokers' loans—of loans collateraled by the securities purchased on margin—is a good index of the volume of speculation.” -John Kenneth Galbraith, The Great Crash 1929. When it comes to stock market sentiment, I like to ...
Decision-making abilities need to be transferred from the political and business elites to citizens, civic organizations, trade unions, and other “countervailing powers,” to borrow an expression from the economist John Kenneth Galbraith. Then there is the issue of fairness. Increasing deregulation has ...
During my time as an AP teacher, students were required to read conservative and liberal political economists such as Milton Friedman's Free to Choose and John Kenneth Galbraith's The Age of Uncertainty. These works and related readings required students to use point-counterpoint arguments from ...
The same aspects of it are constantly repeated, whether by casual tweeters or in widely read economics textbooks by luminaries such as John Kenneth Galbraith. Tulip mania was irrational, the story goes. Tulip mania was a frenzy. Everyone in the Netherlands was involved, from chimney sweeps to ...
Why this lasting fixation on tulip mania? It certainly makes an exciting story, one that has become a byword for insanity in the markets. The same aspects of it are constantly repeated, whether by casual tweeters or in widely read economics textbooks by luminaries such as John Kenneth Galbraith.
John Kenneth Galbraith said that the only function of economic forecasting was to make astrology look respectable. And on our Letters page last week, Sir Gordon Downey, a former Treasury official, recalled the urging of 364 economists in 1981 that Sir Geoffrey Howe, then chancellor, change course: “It ...
John Kenneth Galbraith said that the only function of economic forecasting was to make astrology look respectable. And on our Letters page last week, Sir Gordon Downey, a former Treasury official, recalled the urging of 364 economists in 1981 that Sir Geoffrey Howe, then chancellor, change course: “It ...
William F. Buckley 's best friend was John Kenneth Galbraith. They agreed about nothing but skiing and wine. My Dad's best friend was Bill Timmons who thought Roosevelt ruined the country. Dad believed he saved it. They saw nothing eye to eye. We have to get comfortable with gray again; with a lack of ...
Well, while it's true, to paraphrase John Kenneth Galbraith, that the only function of market commentary is to make astrology look respectable, there are at least a few things we can say for sure. The first, and most important, is that the initial impetus for the drop in stock was a rise in wages. Markets, you see ...
There are surely more reasons than these, so consider this list partial. 2. As I once heard the famous Harvard economist and economics popularizer John Kenneth Galbraith say, and have quoted ever since: “There are two kinds of economists; those who don't know the future, and those who don't know they ...
In “The Culture of Contentment” — first published in 1992 — the economist (and my father) John Kenneth Galbraith ventured that the broad middle classes created by the New Deal had voted for Ronald Reagan and the elder George Bush precisely because the compelling needs that had driven them to ...
Democrats are giddy with optimism over their rosy prospects in the 2018 midterms. But the schism between the left and centrist wings of the party could still cost the party dearly this fall, as Ryan Grim and Lee Fang explain in a brilliant piece of reporting for The Intercept. The division is not so specifically ...
Corporate tax is being reduced to 20 percent. If loopholes aren't closed they'll pay much less. GE didn't pay any taxes in 2012. This new tax bill benefits the wealthy and corporations, not regular people. Also, adds $1.5 trillion to the national debt. It's trickle-down economy again. And John Kenneth Galbraith, ...
John Kenneth Galbraith, who was a scholar and one of the most famous economists of the 20th century, wrote a book called "Anatomy of Power." It begins with a preface that describes the inferiority complex many farmers experienced in the early- to mid-20th century. He was correct in observing that many ...
Legendary Canadian economist and diplomat John Kenneth Galbraith once quipped that, “the only function of economic forecasting is to make astrology look respectable,” underscoring how complex these sorts of analyses are. The Economist noted that, “since economic output represents the aggregated ...
In 1969, Krotkov/Karlin was called to testify before the U.S. Senate Sub-Committee on Internal Security and named Jean-Paul Sartre, John Kenneth Galbraith, a number of distinguished diplomats and other personalities of being in the pay of the KGB. Among those named was Wilfred Burchett. Wilfred ...
Edward M. Kennedy, John Kenneth Galbraith or Abbie Hoffman, speaking and often raising money in an art-filled living room that was a launching pad for any number of campaigns and political causes,” wrote The Los Angeles Times in an obituary for Warner Sheinbaum. “They were part of the social elite ...
Another surprise: The New Deal was also brought about by a Mormon, Marriner Eccles, for whom the Federal Reserve Building in Washington, D.C., is named. John Kenneth Galbraith put it directly: "Marriner Eccles invented the New Deal." His mother, the polygamous second wife of David Eccles, inherited ...
“This, not the pompous business about reinvigoration of the system,” [Harvard economist John Kenneth] Galbraith asserts, “is the true motivation of the tax (and expenditure) cuts.” … With the liberals' failure to sustain growth and stability, there were, in theory, two paths open for the country. One was greater ...
In fact, it was what John Kenneth Galbraith termed “shock absorbers” that probably helped ease the burdens of the recent Great Recession. Not just Social Security, but unemployment compensation extended beyond the normal 26 weeks, food stamps, Medicaid, Medicare and public housing. We had ...
The American Academy of Political and Social Science this week named Maria Cancian its 2018 John Kenneth Galbraith Fellow. Cancian, a professor in the La Follette School of Public Affairs and the School of Social Work, as well as a faculty affiliate and former director of the Institute for Research on ...
Each year, I end my predictions with the prescient words of John Kenneth Galbraith, who eloquently captures the essence of forecasters. There are, as he notes, two types: “those who don't know and those who don't know they don't know.” Feel free to decide which you think I am, but I do hope that these 18 ...
... relating to the Austrian School of economics (Carl Menger, Ludwig von Mises and F.A. Hayek) in a fair-minded and even-handed manner as compared to his presentation of the facts, principles and values of the Keynesian economic school of thought (John Maynard Keynes and John Kenneth Galbraith)?.
Thus wrote John Kenneth Galbraith in 1997, the year of the Asian financial crisis, in the preface to the 6th edition of one of the best-selling books on the Great Depression. The beginning of 2018 is marked by nine years of extraordinary boom in global financial markets after a crisis in 2008, thanks to central ...
“Meetings are indispensable when you don't want to do anything,” author John Kenneth Galbraith also said once. Into this jaded and unflattering view of political life, candidates should see themselves realistically: Ready to spend the time to do the job correctly, as in Galbraith's quote, but also knowing they ...
In 1972, John Kenneth Galbraith visited Communist China and praised Mao and the Chinese economic system. Michel Oksenberg, President Jimmy Carter's China expert, complained, “America [is] doomed to decay until radical, even revolutionary, change fundamentally alters the institutions and values.
Ironically, one of the first to make that connection was a noted liberal economist, John Kenneth Galbraith. Opposing President John F. Kennedy's plan to cut taxes in 1962, Galbraith warned, “Lower tax revenues will become a ceiling on spending.” Republicans soon picked it up. In 1978, Republican ...
In 1972, John Kenneth Galbraith visited Communist China and praised Mao and the Chinese economic system. Michel Oksenberg, President Jimmy Carter's China expert, complained, “America (is) doomed to decay until radical, even revolutionary, change fundamentally alters the institutions and values.
In 1972, John Kenneth Galbraith visited Communist China and praised Mao and the Chinese economic system. Michel Oksenberg, President Jimmy Carter's China expert, complained, “America (is) doomed to decay until radical, even revolutionary, change fundamentally alters the institutions and values.


 

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