Word: galbraith
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Dates: during 1970-1979
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...JOHN KENNETH GALBRAITH 365 pages. Houghton Mifflin...
Complete this sentence: There is nothing so powerful as . . . ? Yes, class, an idea whose time has come. The cliché does not go far enough. The right idea in the right time and place can also be powerfully profitable. John Kenneth Galbraith's The Age of Uncertainty is part of this happy confluence. The book will receive not only a wide readership (it is already a selection of the Book-of-the-Month Club) but also a wide viewership. The BBC has filmed The Age of Uncertainty as a 13-part TV series...
...Galbraith's project attempts to do for the history of economics what Jacob Bronowski's The Ascent of Man did for science and what Kenneth Clark's Civilisation did for art. Of the three, the professor emeritus from Harvard has the most difficult job. Economics is hard on the head and soft on visuals. Portraits of Thomas Malthus, David Ricardo, Karl Marx and John Maynard Keynes are simply not as rousing as thermonuclear explosions or The Naked Maja. But the obscure theories that economists set adrift have far-reaching consequences. Said Keynes: "Practical men, who believe themselves...
Keynes is the book's sentimental favorite. Galbraith himself was under the influence of the British economist's theories during the Roosevelt years. Keynesianism became Americanized and contributed to our prosperity by successfully arguing that the Government spend to create jobs. But even Keynes now appears obsolete. Federal priming of the economy may put more people to work, but it cannot curb the inflation to which full employment is a major contributor...
Thesis topics in Economics ranged from Lewis's "The Iron and Steel Industry" to Steve Galbraith Mullins's possibly apocryphal "Analysis of how the menu in Amtrak affects the number of passengers...