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Unbearable Cost: Bush, Greenspan and the Economics of Empire
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Unbearable Cost: Bush, Greenspan and the Economics of Empire

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by J. Galbraith
 

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This work contains James K. Galbraith's most influential recent writings on current affairs along with new commentary, and explores both the descent to disaster in Iraq and the ongoing transformation of the American economy under the steerage of Alan Greenspan.

Overview

This work contains James K. Galbraith's most influential recent writings on current affairs along with new commentary, and explores both the descent to disaster in Iraq and the ongoing transformation of the American economy under the steerage of Alan Greenspan.

Editorial Reviews

From the Publisher

'Galbraith for the Twenty-first century! Prescient, lucid, elegant. Where others are lost groping in the shadows, James K. Galbraith sees the big picture. His writing is like a torch that guides us through the cave of the present into the light.' - Sidney Blumenthal, formerly Senior Advisor to President Clinton and author of The Clinton Wars

'The reason Jamie Galbraith is such an important writer is because he asks the right questions. You would be amazed at the number of people who pass for pundits or even sages who can't hit the backboard with a question, much less hit the net. That Galbraith knows the answers too strikes me less

impressive. He is after all, an economist and a political scientist and an

academic; he's supposed to know these things. He even did time in the

bowels of congress and so knows how it actually works. Galbraith's writing

is crisp, funny, and incisive. Krugman, move over, Galbraith is here.' -

Molly Ivins is a syndicated columnist, co-author of Bushwhacked: Life in

George Bush's America, and a fellow of the American Academy of Arts and

Sciences.

Product Details

ISBN-13:
9780230019010
Publisher:
Palgrave Macmillan UK
Publication date:
10/02/2006
Edition description:
2006
Pages:
256
Product dimensions:
5.51(w) x 8.50(h) x 0.02(d)

Meet the Author

JAMES K. GALBRAITH is the Lloyd M. Bentsen Jr. Chair in Government/Business Relations at the Lyndon B. Johnson School of Public Affairs, University of Texas at Austin, and is a professor in the Department of Government.

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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."