John Kenneth Galbraith
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.
Affiliations
- Director, Franklin and Eleanor Roosevelt Institute.
- International Advisory Committee, Population Institute
- Cofounder, Americans for Democratic Action
- Honorary Advisor, The Other Economic Summit USA [1]
- In 2000, was a member of the Human Rights Watch Academic Freedom Committee
