Unbearable Cost: Bush, Greenspan and the Economics of Empire

Unbearable Cost: Bush, Greenspan and the Economics of Empire

by James K. Galbraith


View All Available Formats & Editions
Choose Expedited Shipping at checkout for guaranteed delivery by Thursday, January 24

Product Details

ISBN-13: 9780230019010
Publisher: Palgrave Macmillan UK
Publication date: 10/02/2006
Edition description: 2006
Pages: 227
Product dimensions: 5.51(w) x 8.50(h) x 0.02(d)

About the Author

JAMES K. GALBRAITH holds the Lloyd M. Bentsen Jr. Chair in Government/Business Relations at the Lyndon B. Johnson School of Public Affairs, University of Texas at Austin, USA, and a Professorship in the Department of Government. He is Senior Scholar with the Levy Economics Institute and Chair of the Board of Economists for Peace and Security, a global network of professional economists. He served as Executive Director of the Joint Economic Committee of the United States Congress in the early 1980s.

Table of Contents

Introduction Acknowledgements Permissions PART 1: ABOUT BUSH Corporate Democracy; Civic Disrespect Lies, Dumb Lies, and Sample Statistics Defending Democrats...and Democracy Tracking Down the Corporate Crooks The Realities of Resistance Why Bush Likes a Bad Economy Bush's Hail Mary The Plutocrats Go Wild Dissecting Cheney Waiting to Vote Abolish Election Day Democracy Inaction The Floodgates Have Opened PART 2: ABOUT WAR National Defense The Future Oil War The Cheney Doctrine The Unbearable Costs of Empire The Paramilitary Mind What Economic Price This War? Still Wrong: Why Liberals Should Keep Opposing the War Don't Blame Rumsfeld, Blame Bush The Iraqi Quagmire War and Economy Don't Wear Well How You Will Pay for the War The Economics of the Oil War Boom Times for War, Inc. The Gambler's Fallacy Withdrawal Symptoms PART 3: ABOUT GREENSPAN Back To the Cross of Gold Greenspan's Error The Free Ride of Mr Greenspan There's Some Good News That's Bad News Greenspan's Whim Greenspan's Glasnost The Butterfly Effect The Credit, Where Credit is Due Stop the Sabotage Coming from the Fed The Charge of the Fed Brigade We Cannot Have Discipline, So We Must Have Pain The Swiss Guard Watching Greenspan Grow The Man Who Stayed Too Long Bernankenstein's Monster PART 4: ABOUT THE ECONOMY I Don't Want To Talk About It The Sorcerer's Apprentices Is the New Economy Rewriting the Rules? So Long, Wealth Effect Incurable Optimists Enron and the Next Revolution Share Revenue, Save Jobs Hangover In America The Big Fix: The Case for Public Spending Bush's Tax Package and Economic Reality Cashing Out Bankers Versus Base Keeping It Real for the Voters Dazzle Them With Demographics Social Security Scare Campaign Apocalypse Not Yet Taming Predatory Capitalism Index

Customer Reviews

Most Helpful Customer Reviews

See All Customer Reviews

Unbearable Cost: Bush, Greenspan and the Economics of Empire 5 out of 5 based on 0 ratings. 1 reviews.
willyvan More than 1 year ago
James K. Galbraith holds the Lloyd M. Bentsen Jr Chair in Government/Business Relations at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin, USA. In this excellent collection of essays, written between January 1995 and April 2006, he demolishes President Bush's record, especially his arguments for the war on Iraq, and he also criticises Federal Reserve Chairman Alan Greenspan's policies. He writes on the feeble liberal prescription for recovery, "As for training, the problem is not a shortage of skills. It is an extreme shortage of good jobs, combined with bad pay and poor working conditions." He writes, "for a project of national reconstruction and investment, much of the necessary funds can, and properly should, be borrowed. Policy should do what is necessary to restore jobs. Full employment, sustainable development, and national security are proper goals for policy. Deficit reduction, as such, is not. Public debt to enrich the wealthy is one thing. Debt to rebuild the country is something else again." Of course, this is directly relevant to politics here in Britain. The Coalition is not on a route to recovery but on the road to disaster. Professor Galbraith concludes, "The economic commitment, in turn, must be to full employment here, to egalitarian growth in Europe and Japan, and to a worldwide development strategy favoring civil infrastructure and the poor. Public capital investment, stronger unions and a high minimum wage should frame the domestic agenda. Overseas, crackdowns on tax havens and the arms trade, a stabilizing financial system and an end to the debt peonage of poor countries should be among the high priorities of a new structure. "The truths are that egalitarian growth is efficient, that speculation must be regulated, that crime starts at the top, and that peace is the primary public good. These truths are poison to predators and the reason they have fostered and subsidized an entire cynical intellectual movement devoted to 'free' markets, a class of professor-courtiers now everywhere in view."