John Kenneth Galbraith Guide, Meaning , Facts, Information and Description
John Kenneth Galbraith (born October 15, 1908) is something of an iconoclast among North American economists: he is an "old-fashioned" Keynesian with progressive values and a gift for writing accessible, popular books on economic topics in which he takes delight in describing ways in which economic theory does not always mesh with real life.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. Kennedy and was appointed by Kennedy as U.S. ambassador to India 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.
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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 competition. 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. Galbraith, is also a prominent economist.
This is an Article on John Kenneth Galbraith. Page Contains Information, Facts Details or Explanation Guide About John Kenneth Galbraith 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. Quotes
Partial bibliography
See also
External links