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The Bias in Academic Economics: the Economics Salon

In: John Kenneth Galbraith and the Future of Economics

Author

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  • Jeff Madrick

Abstract

What has always impressed me most about John Kenneth Galbraith has been his intellectual courage. Even when government was more or less in fashion in the 1960s, Professor Galbraith stood apart. His iconoclastic advice to John Kennedy on Vietnam is well known. His refusal to endorse the famed Kennedy/Johnson tax cut was probably shared by some of his colleagues, but few on the inside, as he was, said it out loud. Galbraith correctly wanted more spending on public goods. The nation chose to reorient the debate towards something abstract, technical, and more palatable. Economic growth through fiscal stimulus would solve the nation’s problems. Galbraith knew that growth was imperative, but it was not enough.

Suggested Citation

  • Jeff Madrick, 2005. "The Bias in Academic Economics: the Economics Salon," Palgrave Macmillan Books, in: Blandine Laperche & Dimitri Uzunidis (ed.), John Kenneth Galbraith and the Future of Economics, chapter 6, pages 65-76, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52370-8_7
    DOI: 10.1057/9780230523708_7
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    Cited by:

    1. James E. Sawyer, 2009. "Anti-Sustainability Rhetoric: Sketching Ideological Responses," Journal of Innovation Economics, De Boeck Université, vol. 0(1), pages 49-71.
    2. Jim SAWYER, 2009. "Mission-driven capitalism for small business owners in the U.S," Working Papers 208, Laboratoire de Recherche sur l'Industrie et l'Innovation. ULCO / Research Unit on Industry and Innovation.
    3. Jim SAWYER, 2008. "The (confusing) role of capital in speculative capitalism—U.S.- style," Working Papers 5, Réseau de Recherche sur l’Innovation. / Research Network on Innovation.

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