John Kenneth Galbraith

He was a U. S economist, public official and diplomat, and a leading exponent of the 20th-century the Statesn liberalism. His books on economic topics were bestsellers from 1950s through 2000s, during which time Galbraith complete the role of public intellectual. In macro-economical terms he was intitutionalist. He was Americas most famous economist for good reason. A humourous commentator on Americas political follies and a varied author of bestselling books that warn prophetically of the dangers of deregulated markets, corporate greed, and inattention to the costs of our phalanx power including the THE NEW INDUSTRIAL STATE.Galbraith al miens made economic science relevant to the crises of the day. Galbraith was born on October 15, 1908 and was raised on a petty Canadian farm. He began to teach at Harvard in his twenties. He was a long-time Harvard faculty member and as a professor of economics stayed with Harvard University for fractional a century since 1934. In 1938 he l eft to work in New Deal Washington. Fol let looseing his years as a writer at fortune, where he did much to introduce the work of John Maynard Keynes to a wide audience. He returned to Harvard in 1949 and began writing the books that would make him famous.He was a prolific author and wrote four dozen books, including several novels and published everyplace a thousand articles and essays on various subjects. Among his famous works were general trilogy on economics. (American Capitalism 1952), (The Affluent Society 1958), and (The Industrialized State 1967). Galbraith was as well as active in Democratic Party politics, serving in the administrations of Franklin D. Roosevelt, nettle S. Tru bit, John F. Kennedy and Lyndon B. Johnson. He served as United States Ambassador to India under the Kennedy administration.His fateful literary knocked out(p)put and outspokenness made him arguably the best-known economist in the world during his lifetime. Galbraith was one of few recipients b oth of the MEDAL OF granting immunity and the PRESIDENTIAL FREEDOM. Over the years, Galbraith developed a distinctive way of doing economics, and it made him a critic both of conservatives and of many liberal economists. Galbraith was ofttimes at the very epicenter of politics in his time. Ako gi concentrate on ag Popular niya na books ag trilogy. Iya first books which is the American Capitalism, ag Industrialized State and The Affluent Society.And The culture of Contentmen which was published in 1992. So in his first book which is the American Capitalism The Concept of Countervailing reason in 1952. So it is the concept of acting or to avail against with equalise power. In this book Galbraith unfastened the myth that competition between diametrical firms in an industry prevented monopolistic exploitation. In the Affluent Society (1958). Galbraith exposed the idea of consumer sovereignty. He argued that wide-ranging corporations invested large sums in the design, formulation and manufacturing of a new product. To make sure that the product sold, they had to create a want for it.In other words, wants are created by those who satisfy them. Galbraith overly argued that the government should make large investments in education and transport theme by using funds from general taxation. Galbraith worked as an advisor to chair John F. Kennedy who originally planned to appoint him as a secretary of the Treasury. After Kennedy was pressured he gave the job to another person. In 1961 Galbraith was appointed as U. S ambassador to India. He held the post until the assassination of Kennedy in 1963. In The New Industrial State (1967) Galbraith continued his attack on the capitalistic system.He argued that in advanced industrial economies it is the managerial and other experts of the large corporations who really run the system, subordinating the activities of the state to their own goals of corporate gain and personal self-esteem. Galbraith remained active in po litics and worked as an adviser to politicians on the left of the political spectrum. He once said that The forward-looking conservative is engaged in one of mans oldest exercises in moral philosophy that is, the search for a superior moral plea for selfishness. He was also critical of communist governments under capitalism man exploits man.Under Communism, its just the opposite. The Culture of Contentment in 1992. galbraith pointed out that around 50% of Americans take little interest in politics. As they rarely choose, they are ignored by politicians. The two major political parties in the United States therefore concentrate on those who do vote the better of classes. This group tend to demand that taxes are kept low and that they are used on programmes that help the contented classes themselves. As a result, only a small percentage of government revenues are worn-out(a) on helping the underclass or repairing Americas crumbling infrastructure.