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Jamie Galbraith
James Kenneth Galbraith (born January 29, 1952) is an American economist. He is a professor at the Lyndon B. Johnson School of Public Affairs and at the Department of Government, University of Texas at Austin. He is also a Senior Scholar with the Levy Economics Institute of Bard College and part of the executive committee of the World Economics Association, created in 2011. Background Galbraith is a son of the renowned Canadian-American economist John Kenneth Galbraith and Catherine Galbraith (née Catherine Merriam Atwater), and is the brother of the former diplomat, commentator and 2016 Vermont gubernatorial candidate Peter W. Galbraith. He earned his B.A., ''magna cum laude'', from Harvard College in 1974 and Ph.D. from Yale University in 1981, both in economics. From 1974 to 1975, Galbraith studied as a Marshall Scholar at King's College, Cambridge.. Career From 1981 to 1982, Galbraith served on the staff of the Congress of the United States, eventually as executiv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Catherine Galbraith
Catherine Galbraith (née Catherine Merriam Atwater; January 19, 1913 – October 1, 2008) was an American author who was the wife of economist and author John Kenneth Galbraith, and the mother of four sons: diplomat and political analyst, Peter W. Galbraith, economist James K. Galbraith, attorney J. Alan Galbraith, and Douglas Galbraith who died in childhood of leukemia. Life and career Catherine, also known as Kitty, was born in New York City, New York, the daughter of Alice Caroline (née Merriam) and Charles Woodard Atwater, a lawyer who later served as the Consul General for Siam and the granddaughter of Wilbur Olin Atwater, the inventor of the calorimeter and chemist known for his studies of human metabolism and nutrition. Galbraith attended Smith College, spending her junior year at the Sorbonne, and obtaining her bachelor's degree in Romance languages from Smith in 1934. She then took graduate courses in German language at the University of Munich, where she live ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Congress Of The United States
The United States Congress is the legislative branch of the federal government of the United States. It is a bicameral legislature, including a lower body, the U.S. House of Representatives, and an upper body, the U.S. Senate. They both meet in the United States Capitol in Washington, D.C. Members of Congress are chosen through direct election, though vacancies in the Senate may be filled by a governor's appointment. Congress has a total of 535 voting members, a figure which includes 100 senators and 435 representatives; the House of Representatives has 6 additional non-voting members. The vice president of the United States, as President of the Senate, has a vote in the Senate only when there is a tie. Congress convenes for a two-year term, commencing every other January. Elections are held every even-numbered year on Election Day. The members of the House of Representatives are elected for the two-year term of a Congress. The Reapportionment Act of 1929 establ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Predator State
''The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too'' is a book by economist James K. Galbraith, first published in 2008. The title refers to how in US society, as Galbraith sees it, public sector, public institutions have been subverted to serve private profit: the "predators" being corporate elites. He argues that these corporate interests run the state "not for any ideological project—but simply in a way that would bring to them, individually and as a group, the most money.” Background Galbraith was teaching economics at the University of Texas at Austin at the time of the book's creation. His previous book as author was ''Created Unequal: The Crisis in American Pay'', published in 1998. In April 2006 the author visited his father, John Kenneth Galbraith, who had had a decorated career as an economist, public official and ambassador. In this final meeting before his death, the elder Galbraith suggested that James write a book abou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Library Of America
The Library of America (LOA) is a nonprofit publisher of classic American literature. Founded in 1979 with seed money from the National Endowment for the Humanities and the Ford Foundation, the LOA has published more than 300 volumes by authors ranging from Nathaniel Hawthorne to Saul Bellow, Frederick Douglass to Ursula K. Le Guin, including selected writing of several List of presidents of the United States, U.S. presidents. Anthologies and works containing historical documents, criticism, and journalism are also published. Library of America volumes seek to print authoritative versions of works; include extensive notes, chronologies, and other back matter; and are known for their distinctive physical appearance and characteristics. Overview and history The ''Bibliothèque de la Pléiade'' ("La Pléiade") series published in France provided the model for the LOA, which was long a dream of critic and author Edmund Wilson. During the 1960s and 1970s, there was a long saga of r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and also published digitally that focuses on business and economic Current affairs (news format), current affairs. Based in London, the paper is owned by a Japanese holding company, Nikkei, Inc., Nikkei, with core editorial offices across Britain, the United States and continental Europe. In July 2015, Pearson plc, Pearson sold the publication to Nikkei for Pound sterling, £844 million (US$1.32 billion) after owning it since 1957. In 2019, it reported one million paying subscriptions, three-quarters of which were digital subscriptions. In 2023, it was reported to have 1.3 million subscribers of which 1.2 million were digital. The newspaper has a prominent focus on Business journalism, financial journalism and economic analysis rather than News media, generalist reporting, drawing both criticism and acclaim. It sponsors an Financial Times and McKinsey Business Book of the Year Award, annual book ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008–2009 Keynesian Resurgence
The 2008 financial crisis was followed by a global resurgence of interest in Keynesian economics among prominent economists and policy makers. This included discussions and implementation of economic policies in accordance with the recommendations made by John Maynard Keynes in response to the Great Depression of the 1930s, particularly Stimulus (economics), fiscal stimulus and expansionary monetary policy. From the end of the Great Depression until the early 1970s, Keynesian economics provided the main inspiration for economic policy makers in Western industrialized countries. The influence of Keynes's theories waned in the 1970s due to stagflation and critiques from Friedrich Hayek, Milton Friedman, Robert Lucas Jr., and other economists who had less faith in the ability of government intervention to regulate the economy, or were otherwise opposed to Keynesian policies. From the early 1980s to 2008, the consensus among economists was that fiscal stimulus would be ineffective eve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Keynesian Economics
Keynesian economics ( ; sometimes Keynesianism, named after British economist John Maynard Keynes) are the various macroeconomics, macroeconomic theories and Economic model, models of how aggregate demand (total spending in the economy) strongly influences Output (economics), economic output and inflation. In the Keynesian view, aggregate demand does not necessarily equal the aggregate supply, productive capacity of the economy. It is influenced by a host of factors that sometimes behave erratically and impact production, employment, and inflation. Keynesian economists generally argue that aggregate demand is volatile and unstable and that, consequently, a market economy often experiences inefficient macroeconomic outcomes, including economic recession, recessions when demand is too low and inflation when demand is too high. Further, they argue that these economic fluctuations can be mitigated by economic policy responses coordinated between a government and their central bank. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetarist
Monetarism is a school of thought in monetary economics that emphasizes the role of policy-makers in controlling the amount of money in circulation. It gained prominence in the 1970s, but was mostly abandoned as a direct guidance to monetary policy during the following decade because of the rise of inflation targeting through movements of the official interest rate. The monetarist theory states that variations in the money supply have major influences on national output in the short run and on price levels over longer periods. Monetarists assert that the objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary monetary policy.Phillip Cagan, 1987. "Monetarism", '' The New Palgrave: A Dictionary of Economics'', v. 3, Reprinted in John Eatwell et al. (1989), ''Money: The New Palgrave'', pp. 195–205, 492–97. Monetarism is commonly associated with neoliberalism. Monetarism is mainly associated with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Market
In economics, a free market is an economic market (economics), system in which the prices of goods and services are determined by supply and demand expressed by sellers and buyers. Such markets, as modeled, operate without the intervention of Forms of government, government or any other external authority. Proponents of the free market as a normative ideal contrast it with a regulated market, in which a government intervenes in supply and demand by means of various methods such as taxes or regulations. In an idealized free market economy, prices for goods and services are set solely by the bids and offers of the participants. Scholars contrast the concept of a free market with the concept of a Coordinated market economy, coordinated market in fields of study such as political economy, new institutional economics, economic sociology, and political science. All of these fields emphasize the importance in currently existing market systems of rule-making institutions external to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Washington Consensus
The Washington Consensus is a set of ten economic policy prescriptions considered in the 1980s and 1990s to constitute the "standard" reform package promoted for Economic crisis, crisis-wracked developing country, developing countries by the Washington, D.C.-based institutions the International Monetary Fund (IMF), World Bank and United States Department of the Treasury.Williamson, John"What Washington Means by Policy Reform", in: Williamson, John (ed.): ''Latin American Readjustment: How Much has Happened'', Washington: Peterson Institute for International Economics 1989. The term was first used in 1989 by English economist John Williamson (economist), John Williamson. The prescriptions encompassed Free market, free-market promoting policies such as trade economic liberalization, liberalization, privatization and finance liberalization. They also entailed fiscal and monetary policies intended to minimize fiscal deficits and minimize inflation. Subsequent to Williamson's use of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theil Index
The Theil index is a statistic primarily used to measure economic inequality and other economic phenomena, though it has also been used to measure racial segregation. The Theil index ''T''T is the same as redundancy in information theory which is the maximum possible entropy of the data minus the observed entropy. It is a special case of the generalized entropy index. It can be viewed as a measure of redundancy, lack of diversity, isolation, segregation, inequality, non-randomness, and compressibility. It was proposed by a Dutch econometrician Henri Theil (1924–2000) at the Erasmus University Rotterdam. Henri Theil himself said (1967): "The (Theil) index can be interpreted as the expected information content of the indirect message which transforms the population shares as prior probabilities into the income shares as posterior probabilities." Amartya Sen noted, "But the fact remains that the Theil index is an arbitrary formula, and the average of the logarithms of the recip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
