Word: galbraith
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Industrial assistance, Galbraith says is too often geared at making an undeveloped country "capitalist" or "communist," as both advanced states "have taken what is appropriate to their own late stage of development and applied it automatically to the new nations which are in the earlier stages "He explains that Americans and Russians went through cultural and political development before developing economically, and that the poorer nations must do so as well before they can make use of industrial aid. His solution is not a decrease in aid, but a call for a shift from "capital" to "cultural" assistance, a concept...
...Here Galbraith raises the intriguing question of just how exactly to share the world's wealth without creating disturbances, but his answers themselves are underdeveloped. He is infact, wrong that political development is a necessary prerequisite for economic development as fairly prosperous but repressive regimes in Chile Taiwan, and the Philippines demonstrate. And while most people can agree on what might constitute an advanced economy plentiful wealth fairly distributed-few can agree on what an advanced culture is. Non economic or cultural assistance would certainly create the headaches and the upheaval which the author tries to prevent...
...GALBRAITH OFFERS a similarly simple observation and bankrupt solution to the problem of weapons proliferation. No one could deny his assertion that arms sales divert from much-needed expenditures on food and medicine. But his belief that such arms sales are the cause, and not the result of international rivalries, and that consequently Third World enemies can easily unite against the superpowers and boycott weapons, is deluded. He boldly asserts that "from the weapons flow come the resulting tensions and conflict between the recipients-between India and Pakistan, Iran and Iraq, Israel and the Arab lands, between different factions within...
...Galbraith's final chapter, "Historical Process and the Rich," is simply an updated rehash of his landmark book. The New Industrial State, in which he argues that the free market exists only in the minds of capitalist ideologues and that the economy, free of governments intervention, is controlled by large organizations-big business and trade unions. Since corporations plan out production and to some extent anyway, prices, he argues that government planning would only be a minor change and a great improvement over the current system. The most controversial of his proposals is the call for price and income policies...
Though The Voice of the Poor is lacking in fresh answers of even intriguing questions. It does provide the one trait which always makes Galbraith a pleasure to read eloquence. Were he merely clear and concise he would certainly be superior to the vast majority of his economic colleagues. But his essays ingeniously express even old themes in a bright tune few political analysts can approach Note for example, his description of the dangers from the arms race...