[Brad from Tennessee]

[. . .Galbraith is famous for, among other things, insisting during the 1980s that the Soviet Union had a fundamentally stronger economy than the freer market capitalism that typified the United States economy]

One of the leading dictionary publishers in the mid-1980's asked John K. Galbraith to write a definition for "Supply-side economics." Galbraith refused saying the term and the theory were already discredited. This was amidst the phenomenal Reagan economic revival.

[Brilliant]

I don't think Galbraith really knew much about economics. He was more interested in politics. Maybe you could stretch that to include political economy. But he had no earthly clue how the economy really works.