John Kenneth Galbraith

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b. Oct. 15, 1908 Ontario Canada
d. April 29, 2006 Cambridge, Massachusetts

Dr. Galbraith was generally considered to have been an apostle of the theories advanced by British economist John Maynard Keynes: that government could promote full employment and a stable economy by stimulating spending and investment with adjustments in interest and tax rates, and deficit financing.

He lamented what he believed was an excess accumulation of private wealth at the expense of public needs, and he warned that an unfettered free market system and capitalism without regulation would fail to meet basic social demands.

On national political commentary and journalistic punditry, Dr. Galbraith observed: "Nearly all of our political comment originates in Washington. Washington politicians, after talking things over with each other, relay misinformation to Washington journalists who, after further intramural discussion, print it where it is thoughtfully read by the same politicians. It is the only completely closed system for the recycling of garbage that has yet been devised."

Source: Bart Barnes Special to The Washington Post Monday, May 1, 2006

His son is Peter W. Galbraith.

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References

  1. Directors, The Other Economic Summit, accessed March 3, 2009.