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Home > John Kenneth Galbraith

Galbraith was born in Iona Station, Ontario , Canada. He graduated from the Ontario Agricultural College, now University of Guelph and then got an M.S. and Ph.D. from the University of California, Berkeley.

During World War II, Galbraith served a tenure as deputy head of the Office of Price Administration. At the end of the war, he was asked to carry out a survey of US and allied strategic bombing, and concluded that it served no use and did not shorten the war (Source: The Guardian newspaper, Aug. 14, 2004). After the war, he became an advisor to post-war administrations in Germany and Japan.

In 1949, Galbraith was appointed professor of economics at Harvard University. He also served as editor of Fortune.

He was a friend of President John F. KennedyJohn Fitzgerald Kennedy ( May 29, 1917 November 22, 1963), often referred to as Jack Kennedy or JFK was the 35th ( 1961 1963) President of the United States. He was the youngest ever to be elected president and the youngest president ever to die in office and was appointed by Kennedy as U.S. ambassadorThis is a list of ambassadors from the United States . Current Ambassadors Current ambassadors from the United States to: Afghanistan Dr. Zalmay Khalilzad Albania James F. Jeffery Algeria Richard W. Erdman Angola Christopher William Dell Argentina Lino Gu to IndiaThe Republic of India is a large multicultural country in South Asia, with a population of over one billion. The Indian economy is the fourth largest in the world, in terms of purchasing power parity, and is the world's second-fastest growing economy. from 1961 to 1963. There he attempted to aid the Indian government with developing its economy. While in India, he helped establish one of the first computer sciences department at the Indian Institute of Technology in Kanpur, Uttar Pradesh.

1 Works

In American Capitalism: The concept of countervailing power, a seminal work published in 1952, Galbraith outlines how the American economy in the future would be managed by a triumvirate of big business, big labour, and an activist government. He contrasted this with the previous pre-depression era where big business had free rein over the economy.

In another work, The Affluent Society, which became a bestseller, Galbraith outlines how to be successful the United States would need to make large public investments in items such as highways and education. In The New Industrial State (1967), he argues that very few industries in the United States fit the model of perfect competitionIn economic theory, perfect competition is a market form in which no producer or consumer has the power to influence prices in the market. This leads to an outcome which is efficient, according to the economic definition of Pareto efficiency. The analysis. In A Short History of Financial Euphoria (1990), he traces financial bubbles through several centuries, and cautions that what currently seems to be "the next great thing" may not be that great and may have quite irrational factors promoting it.

Galbraith's son, James K. GalbraithGalbraith is a progressive American economist who writes frequently for mainstream and left-wing publications on economic topics. He is the son of renowned economist John Kenneth Galbraith. From 1974 to 1975, Galbraith studied economics at King's College,, is also a prominent economist.

2 Quotes

• "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."
• "If you feed enough oats to the horse, some will pass through to feed the sparrows." - in relation to trickle-down economicsTrickle-down theory also known as trickle down economics was a term used by detractors and advocates alike for some of the policies of Ronald Reagan. See Reaganomics. It is the view that to benefit the wealthy, is to benefit the middle classes and even th
• "Under capitalism, man exploits man. Under communism, it's just the opposite."

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Topics: John Kenneth Galbraith Economics American War Capitalism Served...

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