Posted on 05/01/2006 8:11:28 AM PDT by Grendel9
John Kenneth Galbraith, the Harvard professor who won worldwide renown as a liberal economist, backstage politician and witty chronicler of affluent society, has died, his son said.
Galbraith was 97. He died of natural causes on Saturday night at Mount Auburn Hospital in Cambridge, where he was admitted nearly two weeks ago, Alan Galbraith said.
During a long career, the Canadian-born economist served as adviser to Democratic presidents from Franklin D Roosevelt to Bill Clinton, and was John F Kennedy's ambassador to India.
(Excerpt) Read more at english.aljazeera.net ...
Wonder what he thought about this immigration situation.
He was your typical knee jerk liberal. The government has infinite resources to accomodate future voters for expanded governement. Its all about the math.
97 is a pretty long run, at that.
The only arrow he had in his quiver was government spending....
97 is a pretty long run, at that.A master economist, but misguided. It's too bad that Hayek couldn't bring him to the light, he was surely given enough opportunity.
did he talk JFK into or try to talk him out of the big tax cuts back in the early 60's??????
He was the first missionary for keynesean economics in the US. Thank God the free marketers from the University of Chicago prevailed.
He misled and lied to people for at least half of those 97 years, and he will not be missed. We are STILL combatting his idiotic notion that business failures caused the stock market crash and Great Depression.
The funny thing is that they mentioned that his opposition of free market capitalism never was shown to be more effective than his "government pump" to economies, in fact the opposite. But they said he was very effective in convincing people with the ability to "communicate" with the "common people". Bleck!
He was a tool of the libs, therefore he will be held in high esteem as a "genius". Meanwhile Friedman, F.A. Hayek and the rest will be "forgotten".
It's a war between the forces of freedom versus the forces who believe they know what's best for the "common people".
Actually no. He was instrumental in showing that aerial bombing during WWII was less effective than believed to be.
This discovery allowed tactics to be redesigned so that our men weren't sent into areas that appeared to have been destroyed but were populated with fully active enemy forces.
He was nothing more than a Keysian sycophant. He never proposed an origninal thought. Unlike Keynes, he never understood that once the primed pump is running, there is no reason to continue to prime it. He was a dem stooge with degree's from the right colleges. And yes he was every bit the concieted windbag. My condolences to his family.
Well, I do think that his (wrong) theory on corporate concentration was somewhat original, and not derived from Keynes, but, again, it was wrong.
If you have never rolled the pennies, you don't know Jack about economics.
AMF
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