JKG
John Kenneth Galbraith, RIP
posted by walldon | 10:05 AM
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1 Comments:
Despite the good bet that 90% of Bush supporters don't know who JKG was, Prof. Galbraith contributed considerably to key concepts in economic doctrine. Possibly the most useful was the the concept of "countervailing power" which stipulates that balance in the economy depends on reasonable parity among powerful economic groups, i.e. management, labor, consumers. Given the loss of such balance (which currently prevails in the U.S. economic system) generates imbalance such as income disparity, it would not be surprising to find a lack of interest or awareness among Bush supporters of Prof. Galbraiths notable contributions.
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