The Age of Uncertainty

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Houghton Mifflin, 1977 - Business & Economics - 365 pages
Monograph tracing the historical development of economic theory from the time of adam smith in the 1700s to the present day - includes biographical accounts of the lives and ideas of prominent economists, and covers the ideologies of Marxism, capitalism, colonialism and socialism, money supply, competition, the multinational enterprise, the ratio of land to people, urban development, democracy and political leadership, etc. Illustrations. Biographys prominent economists.

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Contents

On The Age of Uncertainty
5
The Prophets and Promise of Classical Capitalism
9
The Manners and Morals of High Capitalism
43
Copyright

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About the author (1977)

John Kenneth Galbraith is a Canadian-born American economist who is perhaps the most widely read economist in the world. He taught at Harvard from 1934-1939 and then again from 1949-1975. An adviser to President John F. Kennedy, he served from 1961 to 1963 as U.S. ambassador to India. His style and wit in writing and his frequent media appearances have contributed greatly to his fame as an economist. Galbraith believes that it is not sufficient for government to manage the level of effective demand; government must manage the market itself. Galbraith stated in American Capitalism (1952) that the market is far from competitive, and governments and labor unions must serve as "countervailing power." He believes that ultimately "producer sovereignty" takes the place of consumer sovereignty and the producer - not the consumer - becomes ruler of the marketplace.

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