Friday, October 26, 2012

From John Kenneth Galbraith


I grew up on Galbraith's writing; he was arguably the most famous economist of his time, not only in the United States, but in the entire world. Unlike certain conservative economists, he never had to apologize for being horrifically wrong about the need for regulation of certain aspects of the financial sector that were responsible for both a national and a global economic collapse and major depression. He was good at what he did; he was more than competent, he was superb. He speaks insightfully here; he died in 2006 just ahead of the Bush administration's economic policy / conservative policy massive, epic failure.  Those same policies, under Romney, would be as devestatingly failures all over again.  The intentions of the right are clear; Galbraith names it, calls it out for what it really is.

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