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Galbraith: the conscience of economics: John Kenneth Galbraith's death was quickly followed by debate about the significance of his contribution to economics and politics--a debate he would have approved of.

Publication: Arena Magazine
Publication Date: 01-JUN-06
Format: Online
Delivery: Immediate Online Access
Full Article Title: Galbraith: the conscience of economics: John Kenneth Galbraith's death was quickly followed by debate about the significance of his contribution to economics and politics--a debate he would have approved of.(In memoriam)

Article Excerpt
The obituaries for John Kenneth Galbraith demonstrated the breadth of his impact. For his admirers, his influence was seen as extraordinary and enduring. For many of his detractors, it is inappropriate even to call him an economist.

Galbraith would have enjoyed this debate over his legacy. For him, economic analysis was a means to an end--that end being firmly rooted in social justice--and he never dodged confrontation. He would have noted with approval that even his critics saw it as appropriate to mark his passing. This shows the impact of his work. Agree or disagree, it was impossible to ignore him. His views were based on powerful credentials--a strong intellectual understanding of the tenets of economics; appreciation of the limitations of economic analysis based on assumptions that failed to reflect reality; and long experience of the reality of economic fortune and misfortune. All this was tied together with an ability to make his case with a mastery of communication that ensured his message was understood--and remembered. Critical terms such as the 'conventional wisdom' might annoy but could not be easily forgotten.

This combination made books such as The Affluent Society particularly...

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