Essay John Kenneth Galbraith - 1144 Words

John Kenneth Galbraith, born on October 15, 1908, was one of American’s more influential economists, longtime Harvard professor, and a U.S. ambassador to India, an author, an economist, and â€Å"used caustic wit and an iconoclastic temperament to help set the foundation of modern economic thinking† (http://www.csmonitor.com). He, along with another famous economist, and longtime rival, Milton Friedman, believed that everyone has an idea, and that every idea matters, and were masters of the debates and are both very smart people, however, Dr. Galbraith was more to the progressive tradition, and his work was never really accepted, and criticized. Yet through the presidency of John F. Kennedy, he was a trusted adviser, and the author of more†¦show more content†¦Through 1937 to 1938, he was had postgraduate work at Princeton university, and in the same year, 1937, he became an American citizen and married Catherine Atwater. In 1938, he traveled to Europe for sev eral months, were he developed his ideas of economic standings while attending the international economic conference. In 1930, Galbraith was appointed as the assistant professor of economics at Princeton; while in 1940 to 1941 becoming the economic adviser to the National defense advisory Commissions. His later economic overview During World War II, the United States were still feeling the effects of the great depression, and wartime productions, deficits and accommodating monetary policy, and runaway wage prices seemed to be a reality, Dr. Galbraith joined first as an assistant administrator, than later as a department administrator, in charge of price division in the Office of price administration in 1941 through 1943, in hopes to keeping inflation from crippling the war effort. Upon retiring in 1943, he became a member, and the board of editors, to fortune magazines, and directed the U.S. strategic bombing survey which was a way to assess the results of the bombardment the U.S. did over Nazi Germany at the time, in which Galbraith came to the conclusion that general ineffectiveness of strategic bombing trying toShow MoreRelatedJohn Kenneth Galbraith : Written Profile827 Words   |  4 PagesJillian Baggao Marsha Economics John Kenneth Galbraith - Written Profile John Kenneth Galbraith known as the most influential economists in the 20th century who wrote many bestselling books regarding economics, but also wrote books about art history, memoirs and novels. Galbraith was born in Canada and moved to the United States in the 1930s. He earned his Ph.D. in Agricultural Economics at the University of California in Berkeley One of his major bestselling economic books, â€Å"The Affluent Society†Read MorePoverty, By John Kenneth Galbraith1775 Words   |  8 PagesPoverty is a huge issue which never seems to ever go away or be fixed. There are many options as to what can be done to eliminate poverty but, not all options please everyone. John Kenneth Galbraith in his essay â€Å"The Position of Poverty† argues that â€Å"to eliminate poverty, we must invest more than proportionately in the children of the poor community (Jacobus). Money has been a very important tool that has divided the world and given humans labels as wealthy or poor. The wealthy seem to have workedRead MoreConventional Wisdom, By John Kenneth Galbraith1119 Words   |  5 Pages John Kenneth Galbraith, created the phrase â€Å"conventional wisdom†, and found that social and economic behaviors prove to be complex. The passage uses an example of the homeless in 1980s in the U.S. A spokesperson for the benefits of th e homeless states that there were around 3 million homeless in the U.S. The American public found that this was absurd, since this meant that 1 in every 100 people was homeless. However, it was found that he made up those amounts. Another example of this so called conventionalRead MoreThe Great Depression By John Kenneth Galbraith829 Words   |  4 Pagestopic for historians and economists. There has been much debate, and no agreement has been reached. In the mid-20th century, John Kenneth Galbraith published one of his bestsellers, the Great Crash, 1929. In less than 200 pages, the book vividly recounts the history of the Wall Street Crash of 1929, covering the lead-up, actual occurrence, and aftermath. Professor Galbraith, with his witty prose, keen insights, and crisp narration, argues that the blind optimism and excessive speculation kept up theRead MoreThe Dependence Effect1100 Words   |  5 Pagesreasonable statement or argument. Prestige-admiration for someone or something based on the quality. Repugnant-something unacceptable or disgusting. B) 1. The text was written by John Kenneth Galbraith a Canadian born economist and proponent of American Liberalism. Credence should be given to John Kenneth Galbraith because he had several best seller books from the 1950s through 2000 and he was also a professor of economics at Harvard University, a very prestigious university for over 50 years.Read MoreConsumerism in Post World War II Essay1479 Words   |  6 Pages The American economy in the 1950s is simply defined by increased output and increased demand. The primary economist of the 1950s was John Kenneth Galbraith. According to Galbraith’s The Affluent Society, the economy’s production proliferation in the 1950s created consumerism, forming a beneficial relationship that would serve each others’ needs. Galbraith states that the drive for economic security motivated corporations to increase production. Men seek to extinguish insecurity and establishRead MoreEssay on Advertising Age 2266 Words   |  10 PagesProduction is expanding with high speed due to the same reason. This essay will discuss the basic aim of advertising – to convince customers they not only need but also want a certain product – by comparing and contrasting the opinions of John Kenneth Galbraith, a noted scholar, and F.A. Hayek, a professor and Nobel Laureate in Economics. Advertising nowadays is a powerful phenomenon; far more powerful than several years ago when social networks and the internet were not a part of everyone’s dailyRead MoreIs Advertising Creating Artificial Needs?2662 Words   |  11 Pagessatisfied. However John Kenneth Galbraith, a well-known economist who defends anti-consumerism, says that everything people want beyond their basic needs is neither â€Å"urgent†, nor â€Å"important†. But addressing Abraham Harold Maslow’s Hierarchy of Needs, in order to live normally, human beings require more than just to satisfying the â€Å"physiological†, because people have inborn need for â€Å"safety†, â€Å"love†, â€Å"belongingness†, â€Å"esteem†, and â€Å"self-actualization† needs. Considering that a truth Galbraith is not rightRead MoreSocial Entrepreneurship921 Words   |  4 Pagestaught, I wouldnt have started Teach for America. The bottom line in summarizing this analysis of social entrepreneurs is that they recognize a social problem and use their entrepreneurial principles to achieve social change. 3 As John Kenneth Galbraith said, â€Å"All of the great leaders have had one characteristic in common: it was the willingness to confront unequivocally the major anxiety of their people in their time. This, and not much else, is the essence of leadership. This isRead MoreThe Simulation Project3665 Words   |  15 Pagessimilar is their â€Å"open door† policy in the work place, managers are accessible at all levels and this makes it very familiar. The two economic theories that will be compared and contrasted are Walt Whitman Rostow’s Stages of Economic Growth and John Kenneth Galbraith Equilibrium of Poverty for the domestic and gloabal economic environments identified above for US Airways Group. The US has a mixed economic environment and is classified as a first world country. The reason the US does not fit into one specific