Life

Galbraith was natural around Iona Station, Ontario and was raised in Dutton, Ontario. He earned his B.Sc degree from the Ontario Agricultural College (then affiliated with the University of Toronto, and now the University of Guelph) in 1931, and then received an M.Sc (1933) and Ph.D. (1934) from the University of California at Berkeley. [http://post.economics.harvard.edu/faculty/galbraith/bio.html]

When you took World War II, Galbraith was America's "price czar", charged by owning keeping inflation from either crippling a war effort. He served brillliantly when deputy head of the Office of Price Administration. At the prevent of the war, he was asked to carry out a survey of America & allied strategic bombing, & concluded that it served there is no have and did non shorten a war. Fallowing a war, he became an consultant to post-war administrations inside Germany and Japan.

Galbraith served when editor of Fortune magazine from 1943 until 1948. Within 1949, Galbraith was appointed professor of political economy at Harvard University.

He was the friend of President John F. Kennedy and was appointed by Kennedy as U.S. ambassador to India from 1961 to 1963. There he attempted to help a Indian government by owning getting its economy. When inside India, he helped establish one of a number 1 computer science departments at a Indian Institute of Technology in Kanpur, Uttar Pradesh.

Around 1972 he served as president of the Our contries Economic Association. Inside 1997 he was made an Officer of the Order of Canada.

Galbraith is married to Catherine Atwater, whom he met when she was the Radcliffe student. It use at times deuce-ace sons. It reside inside Cambridge, Massachusetts and have a summer zero in Newfane, Vermont.

At 97, Galbraith is one of a pack residing consultant to President Franklin Roosevelt. There exists presently speculation, fueled by comments processed by previous U.S. president Bill Clinton, that Galbraith's health is inside the speedily declining state.

Galbraith's son James K. Galbraith is a prominent (and iconoclastic) economist.

Works
Around U.s. Capitalist economy: A conception of countervailing power, the germinal operate published inside 1952, Galbraith outlines how the U.s. economy later would become managed by a triumvirate of large business, large labour, & an activistic government. He contrasted this sustaining a last pre-depression era in which large business experienced absolutely free! rein across a economy.

In another act, A Affluent Society, which became a best seller, Galbraith outlines his look at that to become successful the United States would require to produce big public investments inside things like main road & education. In that operate, he says, he coined a sentence "conventional wisdom." In The Just released Industrial State (1967), he argues that very couple of industries in a United States healthy the model of perfect competition. The third related operate was Economic science & a Public Purpose (1973), in which he expanded in these themes by discussing, among more issues, a subservient role of women in a empty-handed management of ever-greater consumption, & the role of the technostructure within the large business firm in influencing perceptions of healthy economic policy aims. Inside The Short History of Financial Euphoria (1990), he traces financial bubbles across many centuries, & cautions that what presently seems to become "the next great thing" might not become that outstanding & might develop quite irrational factors promoting it.

Quotes
"Faced with the choice between changing one's mind and proving that there is no need to do so, almost everybody gets busy on the proof." "If you feed enough oats to the horse, some will pass through to feed the sparrows." - inside relation to trickle-down economics "Under capitalism, man exploits man. Under communism, it's just the opposite." "The only function of economic forecasting is to make astrology look respectable." "The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness." "If all else fails, immortality can always be assured by spectacular error." "It is a well known and very important fact that America's founding fathers did not like taxation without representation. It is a lesser known and equally important fact that they did not much like taxation with representation." (Getting been asked how else he managed to write such) "I wake up early, have a good breakfast, and begin." "Humility is not always compatible with truth."

Partial bibliography

Modern Competition & Business Policy, 1938. The Theory of Price Control, 1952. Our contries Capitalist economy: A conception of countervailing power, 1952. A Low Crash, 1929, 1954. A Moneyed Society, 1958. A Liberal Hour, 1960 A Freshly Industrial State, 1967. A Triumph (the novel), 1968. ''Ambassador's Journal, 1969. Economic science, Peace & Laughter, 1972. Power & a Utile Economic expert, 1973, AER Political economy & a Public Purpose, 1973 Money: Whence It Come, In which It Went, 1975. A Age of Uncertainty (besides the BBC 13 a share television series), 1977. Annals of an Imperishable Liberal, 1979. The Life inside My Days, 1981. A Tenured Professor, 1990. The Journeying Across Economic Instance, 1994. A Dependable Society: a humane agenda, 1996. A Essential Galbraith, 2001. A Political economy of Clean-handed Fraud'', 2004.