Word: galbraithe
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...Galbraith admitted that raising taxes would be politically unpopular but said, "Politics must be subordinate to good sense...
...Monetarism] was an extraordinarily successful attack on inflation, but...the direct cost of the monetary experience was a very severe recession or depression," said Galbraith...
...Galbraith said that monetary policies have increased the value of the dollar abroad, causing a huge trade imbalance. This imbalance has offset the expansion caused by the government's deficit spending, he said...
Responding to a question from the audience about how to brighten the economic scene, Galbraith advocated "turning out of office the people who are too retarded to understand...
...interview after his lecture, Galbraith said that he did not expect much change from the Reagan Administration. "Things will look up after the next election because we'll be paying some of the prices of the postponement of reality...