John Kenneth Galbraith and the Lower Economics

The high theme of these writings is that we live in an economy of concentrated economic power. Textbook theory fails to explain this economy; it deals with bygone days. Galbraith’s job is to push, drag, cajole and finesse economics into the latter half of the twentieth century. An important part of that job is to convince the public that the commonly accepted goals of economic growth and full employment variously defined by Republicans and Democrats are obsolete.