Word: galbraith
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Britain was the cradle of both the industrial revolution and, with Adam Smith, the science of economics. With that in mind, Harvard Economist John Kenneth Galbraith, 58, went to London to deliver on BBC radio the famed Reith Lectures (a series of six) on "The New Industrial State." He entered a plea for a sort of diplomatic immunity...
...Once the heralds of bad tidings were hanged," joked Galbraith. "Now such a reaction is regarded as lacking in delicacy." Galbraith's tidings: the free-enterprise economy, which he called one of the "minor branches of theology" in the U.S., is all but dead...
...close to home, a chorus of tax advice descended on him last week from just about every other quarter. Some influential voices continue to insist on a tax increase, of course, such as those of Walter Heller, former chairman of the Council of Economic Advisers, Harvard Economist John K. Galbraith and Chase Manhattan Bank President David Rockefeller. But the nays increasingly have...
...became people watching, until the question arose, what next? With no climax in sight and no single star to shine, part of the answer was 450 bottles of nonvintage Taittinger champagne. Paris Review Editor George Plimpton began throwing slow-motion forward passes with a napkin to Receiver John Kenneth Galbraith, Lynda Bird danced on and on with Actor Roddy McDowall, and Frank Sinatra and Mia drifted out to his favorite West Side...
Kennedy still wavered on tax reduction, was almost talked out of it by three powerful forces: Oklahoma's late Senator Robert Kerr; Cabinet members; and Economist John Kenneth Galbraith, then the U.S.'s Ambassador to India, whose "long shadow had fallen across the White House." Finally, the tide was turned by businessmen. In a speech to the Economic Club of New York late in 1962, Kennedy extolled the good sense of tax cuts and got such a rousing reception from 2,000 business leaders that he himself became convinced and proceeded to press enthusiastically for reductions. Said...