A Journey Through Economic Time by John Kenneth Galbraith

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Synopsis

A renowned economist presents an accessible, far-reaching history of the century's economics from World War I and the Russian Revolution, through the Depression and Keynesian theory, to colonialism's collapse and the rise of the Third World.
 

About John Kenneth Galbraith

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John Kenneth Galbraith is a Canadian-born American economist who is perhaps the most widely read economist in the world. He taught at Harvard from 1934-1939 and then again from 1949-1975. An adviser to President John F. Kennedy, he served from 1961 to 1963 as U.S. ambassador to India. His style and wit in writing and his frequent media appearances have contributed greatly to his fame as an economist. Galbraith believes that it is not sufficient for government to manage the level of effective demand; government must manage the market itself. Galbraith stated in American Capitalism (1952) that the market is far from competitive, and governments and labor unions must serve as "countervailing power." He believes that ultimately "producer sovereignty" takes the place of consumer sovereignty and the producer - not the consumer - becomes ruler of the marketplace.
 
Published June 14, 1994 by Houghton Mifflin. 268 pages
Genres: Business & Economics, History, Education & Reference. Non-fiction

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Although he is conventional enough in holding that WW I was the great turning point in modern economic history, that Churchill's decision to return Great Britain to the gold standard at the old exchange rate in the 1920s was an unqualified disaster, and that Keynes saved the capitalist system, he...

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In an incisive informal history that often defies conventional wisdom, Galbraith surveys economic policy and its interaction with politics and society from WW I to the present.

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