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Zomby Woof Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-30-06 10:54 PM
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John Kenneth Galbraith
Towering at a height of six feet and eight inches, John Kenneth Galbraith indeed strode the earth like a colossus. With an intellect and a caustic wit as imposing as his physical stature, the eminent economic theorist of our times may very well have been the most influential thinker in his discipline since Karl Marx, and most certainly, since Adam Smith penned The Wealth of Nations.

A half century into his life he presented The Affluent Society unto the world. The Canadian-born Galbraith, having been a naturalized U.S. citizen for over two decades upon the release of this landmark, drew upon years of keen personal observation and experience, having worked in Franklin Roosevelt's administration as a key contributor to the programs of the New Deal. In it, he postulated that the free market system was a myth, and that the gargantuan profiteering and concurrent consolidation of corporations not only made competition moot, but wrought a devastating impact upon the social fabric, as the inequities of mass capitalism could not support its own weight indefinitely. His was a critique of empty consumerism, and how America's brand of capitalism was becoming less and less utilitarian in its output, and more gadget-oriented and gimmick-friendly. It recalled a similar danger America faced due to corporate bloating in the Gilded Age that was unraveling at the time of Galbraith's own birth. But no one at that time, not even Upton Sinclair and his muckraking allies, had quite sounded an alarm bell with such resonance and far-reaching influence as Galbraith did in 1958.

The impact of The Affluent Society was immediate and powerful. It had an enormous influence on Lyndon Johnson, who crafted much of The Great Society upon the ideas Galbraith championed. He lived long enough to see a backlash against his theories during the rampant stagflation and America's first major oil crunch in the 1970's. The idea of using government largesse to right the inequities of American-style corporatism fell out of fashion due to the creeping malaise of the post-Watergate, post-Vietnam economy, in which the manufacturing sector lay in ruins and rust belt emigration gave way to the burgeoning service-sector economy; in addition to this, the rise of Asia's economic influence and America's falling exports not keeping pace with massive importation contributed to a sense of failed possibility and missed opportunity.

Although the rise of Ronald Reagan and the enabling by the mass media of the dismantling of the Galbraithian infrastructure seemed to relegate him to relic status by the 1980's, he lived long enough to see much of his theories come full circle, and he achieved a fair measure of vindication in turn, especially as the stock market endured a serious crash in 1987, as the deadening effects of Reagan's policies bore bitter fruit when George H.W. Bush assumed power at the turn of the new decade and maintained the status quo.

In Galbraith's twlight years, the shadow of the junior Bush was cast upon the world, and the dangerous myopia of conservative dogma, in conjunction with Bush's treasury-busting bankrolling of an unjust and immoral war, and with that, its assurance of more mass terrorism against the United States, a job emigration unprecedented in our history, and an oil crisis to end all oil crises, has wrecked American economic confidence to the point where Galbraith has perhaps achieved full vindication, but not in the way that he intended, nor should we desire.

A giant walks with us no more. A Renaissance man, an ambassador, a humanitarian, and an intellect of formidable disposition, we may never see his likes again in our lifetimes, and we are all the poorer for it. For there is a dimension to his economic theories we would do well to pay heed: Economics is more than the sum of theories and models. It is about we the people and what it takes to build and sustain a healthy society, with humane regard for others, with equality, dignity, and health for all its citizens. For what good is economics if it remains lifelessly detached and academic, unconcerned with the realities of the human condition that transcend cycles of poverty and wealth, profit and shortfall, or surplus and deficit? Galbraith knew that economics without a vision was just merely economics, and that it alone is not a sufficient foundation for anything other than a good thesis. A good society betters that notion, and Galbraith devoted his 97 years to making economics organic and relevant to all of us in ways we may yet fully appreciate.
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niyad Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-30-06 11:02 PM
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1. thank you for this--he was truly a brilliant and talented person. RIP.
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rwenos Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-30-06 11:07 PM
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2. A California Story
John Kenneth Galbraith, truly a giant, wrote an article in the UC Berkeley alumni magazine 20 years ago, which I found charming.

In the mid 1930's, Galbraith, then a young assistant professor in the A.P. Giannini School of Agriculture (yeh, same Giannini), was given the task of starting an agricultural economics program at what was then called the "University Farm," i.e., a large tract of land in the Central Valley west of Sacramento.

What Professor Galbraith started became, after WW2, first the University Agriculture Field Station, and later the Davis campus of the University of California, the alma mater of several of my friends.

RIP, John Kenneth Galbraith. A tall tree has fallen.
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Robbien Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-30-06 11:10 PM
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3. The world has gotten a bit dimmer with his passing
Edited on Sun Apr-30-06 11:45 PM by Robbien
Rest in peace Mr. Galbraith, you did more than your share.

Edit: And thank you Zomby Wolf for your words. It is a beautifully written tribute.
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dorktv Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-30-06 11:11 PM
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4. Thank you Mr. Galbraith.
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earthboundmisfit Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-30-06 11:21 PM
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5. Truly, a great one of us is gone.
In honor to him I revisited Harry Kreisler's interview with him at UC Berkeley:
http://globetrotter.berkeley.edu/conversations/Galbraith/galbraith1.html

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ConsAreLiars Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Apr-30-06 11:21 PM
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6. " Galbraith and Vietnam"
http://www.thenation.com/doc/20050314/parker

He was a counterforce to the warmongers and geopolitical game-players. If JFK had not been assassinated by his enemies, our history would have been far different.
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burrowowl Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 12:22 AM
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7. A Great Man has left us
I hope someone picks up the mantel.
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ConsAreLiars Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 12:52 AM
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8. To his shame, he advocated against the war when he served Kennedy, but
he failed miserably to stand up against the war during the Johnson-Nizon escalation. I remember participating in a march on the Brookings Institution. He failed to do this, and so ends his life, as most of us will, with some pluses and minuses on the scoresheet. He could have done more.
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Elwood P Dowd Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 01:12 AM
Response to Reply #8
9. He also praised free trade deals
I remember watching an interview with him back in the 90s about free trade, and not once did he mention that NAFTA was NOT FREE TRADE! Maybe I missed something since I only heard part of the interview, but it sure sounded like he was in favor of that awful piece of shit. I just shook my head and turned off the television before the piece was over.
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ConsAreLiars Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 01:25 AM
Response to Reply #9
10. Galbraith, like Gergen and all so many others,
was an advocate for corporate power. Sometimes this, by opposing insanity, served the greater good. More often than not, it served the few.
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opihimoimoi Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 01:52 AM
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11. I found two of his books, THE GOOD SOCIETY, and ANATOMY OF POWER
outstanding and powerful....
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Kurovski Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 03:27 AM
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12. Kick and recommendation.(nt)
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henslee Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 03:40 AM
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13. Here's a Sept. DU post relating Galbraith's take on WWII's end & Iraq.
Original post by 1932 ( Sat Sep-10-05 01:53 PM
----------------------------------------------
Rebuilding Iraq: an historical precedent in post WW2 Germany.

I'm not a fan of the long post, but here goes:

I'm reading Richard Parker's biography of JK Galbraith. In it Parker describes the political machinations at the end of WW2 that occurred as American corporations started angling for a post war economy that would make them rich. Parker describes an America transitioning from the deeply-progressive FDR government to a Truman government that started to come under the sway of anti-communists and Wall St.

Parker argues that FDR's vision for a post-war world pictured a peaceful economic competition with the soviet union. FDR was able, through his brilliant negotiating abilities and by having his finger on the pulse of Stalin and Churchill, to balance interests which allowed the three nations to work together during the war, and he was confident that he could do the same after the war.

Truman, however, didn't have those skills. His first meeting with the Russian minister Molotov was a disaster, and things quickly went downhill. And, even worse, Truman shifted allegiance from progressive goals, to satisfying Wall St. (To the dismay of New Dealers, out of 125 of Truman's early appointments, 97 of them went to financiers, CEOs,corporate lawyers, and generals, causing some to note that Truman was shifting power from the people to a "Wall St-West Point axis.")

Parker illuminates this transition with a story about Galbraith's return to government service after working for Fortune during the war years. At the end of the war, after the German surrender and before V-J day, the US government sent Galbraith to Germany to study the effectiveness of air bombing of Europe. He was to produce a report to a commission headed by corporate lawyers (who represented financiers, like JP Morgan, who made a great deal of money off of WW1 and stood to make a great deal of money depending on the direction the US military took after WW2).

At the time, these financiers and corporate interests wanted the government to conclude that aerial bombing was very successful. Building an air force from almost 0 and growing it to 110% was going to cause a lot of money to change hands. Furthermore, an air force is expensive to maintain. Bombs are expensive and have to be replaced, and every pilot has to be wrapped in a very expensive machine. So, yes, corporations wanted the aerial raids to be deemed successful.

Galbraith found, however, that the air raids were not effective. Less than 5% of the damage during WW2 was caused by air attacks. Furthermore, they were extremely inefficient at hitting targets and caused terrible civilian deaths. (The book has more detail on the failures of the bombing, noting that German industrial production actually increased as the bombing became more intense).

The lawyers on the commission did everything they could to cover this up. Unfortunately the message didn't influence the strategy in Japan. Japan, at the time, acquired most of its resources from the countries it invaded, so dropping bombs on Japan didn't effect its ability to continue with the war. Instead, Japan's war effort was really hurt by the US Navy intercepting their trade routes and landing on beaches in the Pacific. Regardless, we carpet bombed Japan with incendiary devices designed and tested on model Japanese cities built on FL base to burn at precisely the rate that made it impossible for firefighters to put out the fires, and then we dropped two atomic bombs on Japan. It was an expensive waste of time and lives considering the US Navy was strangling the Japanese war machine by cutting off their access to rubber, oil and everything else they needed to continue fighting. But, hey, whatever, The false perception that planes and bombs would win wars was going to make Wall St rich.

So, now on to the post-war reconstruction of Germany. What to do in Germany? New Dealers wanted to keep FDR's dream alive. They believed friendly economic competition with the Soviets would be enough. Galbraith, himself, argued that there was nothing to fear in social democracy. He said that once capitalist nations take necessary steps to ensure a good level of employment, social security and health care, and once socialist countries make the obvious concessions to market realities, there isn't much difference between the capitalism and social democracies.

People like Galbraith believed that the best thing that could be done with germany was to put money into it, let the workers have jobs, etc., and not to use it as an ideological battleground.

However, the same corporate interests wanting a big air force wanted Germany to be seen as a battle ground of ideologies. People within the Truman government more interested in helping along the military budget to escalate (to the benefit of Wall St) convinced Truman that the Soviets were a military threat. Those ideas led to the division of Germany, and to the CIA financing right wing governments in Europe so to undermine the social democrats, and the beginning of the cold war.

Instead of encouraging nations to work together to ensure economic security for the people of the world, conservatives in both the Democratic and Republican Party triumphed over the New Dealers and turned the world into a battlefield polarized by ideologies, and on that battlefield, left behind were the concerns and well-being of the "common man" (borrowing from Henry Wallace's statement that the post war world "can and must be seen as the age of the common man" rather than one of the imperialist American Century).

So doesn't some of this sound familiar?

Today, we've seen the triumph of the military industrial complex. In 1998 there was a study that concluded that the US had spent 18 trillion dollars on defense spending (a third of that on nuclear weapons) and the next highest expenditure was $8 trillion on social security, and $4.7 trillion on financing the debt. A very large percentage of that has gone to making corporations rich. But what would happen to those fat profits if the world weren't seen as a dangerous place?

Today, we have the same voices claiming that air superiority is the route to military success (even though its probably the case that today just as in WW2, it's the most expensive and destructive, least effective way to achieve (legitimate) strategic goals).

We have the same voices saying that American values need to be exported to the world because America is ina unique, powerful position, and because we're right.

But, in a world without a soviet threat, the world needs some new polarizing influence to justify continued spending on the corporations that gained so much power over the last half century (the Wall St-West Point axis). So we've found our new polarity -- terrorism. And just as post-war reconstruction of Germany was the battlefield between New Dealers and Cold Warriors, I think Iraq reconstruction is a similar battlefield (although there's no "New Deal" equivalent arguing for the interests of the common man, since the left doesn't seem to understand this situation the way Roosevelt might have -- that it's really a battle over who is going to get rich, the people or corporations not interested in the lives of the common men and women and it's cloaked by a battle of ideologies and a fear that we could lose that battle).

Rather than Iraq becoming a place where every citizen gets a piece of the pie and, as a consequence, will be allowed to be masters of their own national destiny, Iraq is being built to be a bulwark in an ideological battle that's designed to promote more conflict so that huge military budgets can be justified.
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newyawker99 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 10:41 AM
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14. Rest in Peace Mr Galbraith. n/t
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kentuck Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 10:42 AM
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15. An excellent piece in the NY Times today about John Kenneth...
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Lisa Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 12:44 PM
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16. goodbye to a great Canadian
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Kolesar Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 12:53 PM
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17. Nice! NPR did an excellent bio on All Things Considered Sunday evening
You will be able to find it at www.npr.org when they post it.
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Coexist Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-01-06 12:54 PM
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18. knr
:cry:
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