The Fruits of Civilization (27-20) John Kenneth Galbraith

John Kenneth Galbraith

Under capitalism, man exploits man. Under communism, it’s just the opposite. ~ John Kenneth Galbraith

Canadian American political economist and public servant John Kenneth Galbraith (1908–2006) was an advocate of American liberalism: politically enforced social equality and a mixed economy. A mixed economy typically has a heavily regulated private sector and considerable governmental provision of public goods.

The great dialectic in our time is not between capital and labor; it is between economic enterprise and the state. ~ John Kenneth Galbraith

Galbraith rejected as unrealistic the technical analysis and mathematical modeling that characterized neoclassical economics. Like Veblen, Galbraith believed that economic activity reflects the cultural and political milieu of its time: an obvious conclusion from economic history that nonetheless has repeatedly been underappreciated by economic theorists.

The conspicuously wealthy turn up urging the character-building values of the privation of the poor. ~ John Kenneth Galbraith