John Kenneth Galbraith, non-stop Coolidge critic, was the Paul Krugman of his day. About the time I earned my graduate degree in the spring of 1987, he wrote a much hyped article about how the Soviet model was the economic wave of the future and how America needed to reconcile itself to that fact and figure out how to make our economy work as well.
Indeed. Gailbraith was the lying, breathless, overhyped Grande Douche of economics in his day. Most of what he put on paper was an expression of his gargantuan ego, not actual economics.
RE: 1987, he wrote a much hyped article about how the Soviet model was the economic wave of the future and how America needed to reconcile itself to that fact and figure out how to make our economy work as well.
So, what did he say after the USSR imploded and dissolved?
I’ve never had the chance to hear or read JKG eat crow.
John Kenneth Galbraith, the dunce from Dutton? Actually Iona Station, but Dutton sounds better and Iona Station is not really a town.