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John Kenneth Galbraith
John Kenneth Galbraith (October 15, 1908 – April 29, 2006), also known as Ken Galbraith, was a Canadian-American economist, diplomat, public official, and intellectual. His books on economic topics were bestsellers from the 1950s through the 2000s. As an economist, he leaned toward post-Keynesian economics from an institutionalist perspective. Galbraith was a long-time Harvard faculty member and stayed with Harvard University for half a century as a professor of economics. He was a prolific author and wrote four dozen books, including several novels, and published more than a thousand articles and essays on various subjects. Among his works was a trilogy on economics, '' American Capitalism'' (1952), ''The Affluent Society'' (1958), and '' The New Industrial State'' (1967). Some of his work has been criticized by economists Milton Friedman, Paul Krugman, Robert Solow, and Thomas Sowell. Galbraith was active in Democratic Party politics, serving in the administrations of ...
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United States Ambassador To India
The United States Ambassador to India is the chief diplomatic representative of United States in India. The U.S. Ambassador's office is situated at the U.S. Embassy in New Delhi. Chiefs of Mission to India U.S. Ambassadors to the Dominion of India (1947-1950) President George Washington, on November 19, 1792, nominated Benjamin Joy of Newbury Port as the first American Consul to Calcutta (now Kolkata) and later commissioned Joy to that office on November 21, 1792. U.S. Ambassadors to the Republic of India (1950-present) See also *Embassy of India, Washington, D.C. * India – United States relations *List of ambassadors of India to the United States *Foreign relations of India *Ambassadors of the United States Ambassadors of the United States are persons nominated by the president to serve as the country's diplomatic representatives to foreign nations, international organizations, and as ambassadors-at-large. Under Article II, Section 2 of the U.S ... Reference ...
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Michał Kalecki
Michał Kalecki (; 22 June 1899 – 18 April 1970) was a Polish Marxian economist. Over the course of his life, Kalecki worked at the London School of Economics, University of Cambridge, University of Oxford and Warsaw School of Economics and was an economic advisor to the governments of Poland, France, Cuba, Israel, Mexico and India. He also served as the deputy director of the United Nations Economic Department in New York City. Kalecki has been called "one of the most distinguished economists of the 20th century" and "likely the most original one". It is often claimed that he developed many of the same ideas as John Maynard Keynes before Keynes, but he remains much less known to the English-speaking world. He offered a synthesis that integrated Marxist class analysis and the new literature on oligopoly theory, and his work had a significant influence on both the neo-Marxian (''Monopoly Capital'') and post-Keynesian schools of economic thought. He was one of the first ...
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Lomonosov Gold Medal
The Lomonosov Gold Medal (russian: Большая золотая медаль имени М. В. Ломоносова ''Bol'shaya zolotaya medal' imeni M. V. Lomonosova''), named after Russian scientist and polymath Mikhail Lomonosov, is awarded each year since 1959 for outstanding achievements in the natural sciences and the humanities by the USSR Academy of Sciences and later the Russian Academy of Sciences (RAS). Since 1967, two medals are awarded annually: one to a Russian and one to a foreign scientist. It is the Academy's highest accolade. Recipients of Lomonosov Gold Medal __NOTOC__ 1959 * Pyotr Leonidovich Kapitsa: cumulatively, for works in physics of low temperatures. 1961 * Aleksandr Nikolaevich Nesmeyanov: accumulatively for works in chemistry. 1963 * Sin-Itiro Tomonaga (member of the Japanese academy of Sciences, president of the Scientific Council of Japan): for substantial scientific contributions to the development of physics. * Hideki Yukawa (member of the J ...
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Conventional Wisdom
The conventional wisdom or received opinion is the body of ideas or explanations generally accepted by the public and/or by experts in a field. In religion, this is known as orthodoxy. Etymology The term is often credited to the economist John Kenneth Galbraith, who used it in his 1958 book ''The Affluent Society'':''E.g.,'Mark Leibovich, "A Scorecard on Conventional Wisdom", ''N.Y. Times'' (March 9, 2008) However, the term dates back to at least 1838. ''Conventional wisdom'' was used in a number of other works before Galbraith, occasionally in a benign''E.g.,'1 Nahum Capen, ''The History of Democracy'' (1874), page 477("millions of all classes alike are equally interested and protected by the practical judgment and conventional wisdom of ages"). or neutral''E.g.,'"Shallow Theorists", ''American Educational Monthly'' 383 (Oct. 1866)("What is the result? Just what conventional wisdom assumes it would be."). sense, but more often pejoratively.''E.g.,'Joseph Warren Beach, ''The T ...
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Technostructure
Technostructure is the group of technicians, analysts within an organisation (enterprise, administrative body) with considerable influence and control on its economy. The term was coined by the economist John Kenneth Galbraith in '' The New Industrial State'' (1967). It usually refers to managerial capitalism where the managers and other company leading administrators, scientists, or lawyers retain more power and influence than the shareholders in the decisional and directional process.John Kenneth Galbraith, ''The New Industrial State'', p. 71 HMCO 1967 Historical context The power struggle between the technostructure and the shareholders was first evoked by Thorstein Veblen in "The Theory of the Leisure Class" (1899), questioning who, among the managers and the shareholders, should control the enterprise. At the time and until the end of the 1980s, the shareholders, unable to effectively regroup and organise themselves, could not exert enough pressure to effectively counter the ...
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Countervailing Power
Countervailing power, or countervailance, is the idea in political theory of institutionalized mechanisms that the wielding of power within a polity having two or more centers can, and often does, provide counter-forces that usefully oppose each other. Countervailance in formal political theory dates back at least to Medieval times, especially in Roman Catholic and early Protestant movements, not all of which were successful in achieving their own ends. The Conciliar Movement, although ultimately ending in failure to reform the Catholic church, "raised issues that are fundamental in all domains of social organization, and it contributed to the understanding of the general principle of countervailance, which eventually became the foundation of modern constitutionalism." This political organization stands in contrast to polities such as principalities where "various princes were absolute rulers in their domain" or in modern examples of totalitarian governments. In the 20th centur ...
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Modern Monetary Theory
Modern Monetary Theory or Modern Money Theory (MMT) is a heterodox * * * * * * macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires.Warren MoslerME/MMT: The Currency as a Public MonopolyTymoigne, Éric; Wray, L. Randall (November 2013)"Modern Money Theory 101: A Reply to Critics" Levy Economics Institute of Bard College. Working Paper No. 778. MMT is opposed to the mainstream understanding of macroeconomic theory and has been criticized heavily by many mainstream economists. MMT says that governments create new money by using fiscal policy and that the primary risk once the economy reaches full employment is inflation, which can be addressed by gathering taxes to reduce the spending capacity of the private sector. MMT is debated with active dialogues about its theoretical integrity, the implications ...
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Yanis Varoufakis
Ioannis "Yanis" Varoufakis ( el, Ιωάννης Γεωργίου "Γιάνης" Βαρουφάκης, Ioánnis Georgíou "Giánis" Varoufákis, ; born 24 March 1961) is a Greek economist and politician. A former academic, he served as the Greek Minister of Finance from January to July 2015 under Prime Minister Alexis Tsipras. He has been Secretary-General of MeRA25, a left-wing political party, since he founded it in 2018. A former member of Syriza, Varoufakis was a member of the Hellenic Parliament for Athens B from January to September 2015; he regained a parliamentary seat in July 2019. Varoufakis was born in Athens in 1961. He studied mathematics and economics at the University of Birmingham and the University of Essex, where he obtained a PhD in economics. He then taught economics in the United Kingdom and then at the University of Sydney, before returning to Greece in 2000 to teach at the University of Athens. In January 2015, Varoufakis was appointed Greek Minister of ...
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Joseph Stiglitz
Joseph Eugene Stiglitz (; born February 9, 1943) is an American New Keynesian economist, a public policy analyst, and a full professor at Columbia University. He is a recipient of the Nobel Memorial Prize in Economic Sciences (2001) and the John Bates Clark Medal (1979). He is a former senior vice president and chief economist of the World Bank. He is also a former member and chairman of the (US president's) Council of Economic Advisers. He is known for his support of Georgist public finance theory and for his critical view of the management of globalization, of ''laissez-faire'' economists (whom he calls " free-market fundamentalists"), and of international institutions such as the International Monetary Fund and the World Bank. In 2000, Stiglitz founded the Initiative for Policy Dialogue (IPD), a think tank on international development based at Columbia University. He has been a member of the Columbia faculty since 2001, and received the university's highest academic rank (u ...
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Paul A
Paul may refer to: * Paul (given name), a given name (includes a list of people with that name) *Paul (surname), a list of people People Christianity *Paul the Apostle (AD c.5–c.64/65), also known as Saul of Tarsus or Saint Paul, early Christian missionary and writer *Pope Paul (other), multiple Popes of the Roman Catholic Church *Saint Paul (other), multiple other people and locations named "Saint Paul" Roman and Byzantine empire *Lucius Aemilius Paullus Macedonicus (c. 229 BC – 160 BC), Roman general *Julius Paulus Prudentissimus (), Roman jurist *Paulus Catena (died 362), Roman notary *Paulus Alexandrinus (4th century), Hellenistic astrologer *Paul of Aegina or Paulus Aegineta (625–690), Greek surgeon Royals *Paul I of Russia (1754–1801), Tsar of Russia *Paul of Greece (1901–1964), King of Greece Other people * Paul the Deacon or Paulus Diaconus (c. 720 – c. 799), Italian Benedictine monk *Paul (father of Maurice), the father of Maurice, Byz ...
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Lars Pålsson Syll
Lars Jörgen Pålsson Syll (born November 5, 1957) is a Swedish economist who is a Professor of Social Studies and Associate professor of Economic History at Malmö University College. Pålsson Syll has been a prominent contributor to the economic debate in Sweden over the global financial crisis that began in 2008. Biography Lars Jörgen Pålsson Syll (born in 1957) received a PhD in economic history in 1991 and a PhD in economics in 1997, both at Lund University. In 1995 he was appointed associate professor in economic history at Malmö University College. In 2004 he was appointed a professor of social studies at Malmö University College. He researches and teaches the history of economic theory and methodology. Other research areas include theories of distributive justice and critical realist social science. He also studied under Hyman Minsky as a young research stipendiate in the U.S. at the beginning of the 1980s. Lars Pålsson Syll has written several books and many article ...
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Robert Heilbroner
Robert L. Heilbroner (March 24, 1919 – January 4, 2005) was an American economist and historian of economic thought. The author of some 20 books, Heilbroner was best known for ''The Worldly Philosophers: The Lives, Times and Ideas of the Great Economic Thinkers'' (1953), a survey of the lives and contributions of famous economists, notably Adam Smith, Karl Marx, and John Maynard Keynes. Early life and education Heilbroner was born in 1919, in New York City, to a wealthy German Jewish family. His father, Louis Heilbroner, was a businessman who founded the men's clothing retailer Weber & Heilbroner. Robert graduated from Harvard University in 1940 with a ''summa cum laude'' degree in philosophy, government and economics. During World War II, he served in the United States Army and worked at the Office of Price Control under John Kenneth Galbraith, the highly celebrated and controversial Institutionalist economist. Career After World War II, Heilbroner worked briefly as a ban ...
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