Home | Business News | Browse by Publication | J | Journal of Economic Issues

The Economics of Innocent Fraud: Truth for Our Time.

Publication: Journal of Economic Issues
Publication Date: 01-MAR-05 		Format: Online - approximately 1059 words
Delivery: Immediate Online Access
Full Article Title: The Economics of Innocent Fraud: Truth for Our Time.(Book Review)

Article Excerpt
The Economics of Innocent Fraud: Truth for Our Time, by John Kenneth Galbraith. Boston & New York: Houghton Mifflin Company. 2004. ISBN 0618013245, $15.00. xi + 62 pages.

This is a most notable little book. As with "conventional wisdom," Professor Galbraith's term "innocent fraud" will be a powerful addition to the lexicon of critical thinking. This review first addresses a few of the innocent frauds exposed by Professor Galbraith and then continues with a discussion of other innocent frauds currently influencing public policy. Unlike Professor Galbraith's previous writings, in this book the case is deliberately understated, thereby encouraging the reader to take the analysis further.

On page 4 Galbraith writes of "workers who suffered from their undoubted bargaining weakness." What is called the "labor market" is clearly not a "fair game," as any student of "game theory" will immediately confirm. When employees must "work to eat" and employers need employ only if returns on equity are acceptable, the...

Read the FULL article now - Try Goliath Business News - FREE!   
You can view this article PLUS...

  • Over 5 million business articles
  • Hundreds of the most trusted magazines, newswires, and journals (see list)
  • Premium business information that is timely and relevant
  • Unlimited Access

Now for a Limited Time, try Goliath Business News - Free for 3 Days!
Tell Me More   Terms and Conditions

Get Goliath Business News for 1 year - Just $99 (Save 65%)
Tell Me More   Terms and Conditions

Already a subscriber? Log in to view full article



More articles from Journal of Economic Issues
Contours of Descent: U.S. Economic Fractures and the Landscape of Glob..., March 01, 2005
Governing Work and Welfare in a New Economy: European and American Exp..., March 01, 2005
The Oxford Encyclopedia of Economic History.(Book Review), March 01, 2005
The State, the Market, and the Euro.(Book Review), March 01, 2005
Economic Governance in the Age of Globalization.(Book Review), March 01, 2005

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.