Wednesday, May 04, 2005

Galbraith: thin legacy - Foreign Affairs, J. Bradford DeLong
Galbraith's economic views have undergone an even more distressing eclipse. Among economists (excluding economic historians), the 70-year-olds have read Galbraith and think he is very important; the 50-year-olds have read Galbraith and know that the 70-year-olds think he is important but are not sure why; and the 30-year-olds have not even read him.
1. Eclipse yes, distressing no.
2. 50-year-olds read Galbraith as undergrads and nothing stuck. Except the notion that there's no there there.
3. The 50-year-olds taught the 30-year-olds.
4. Thin legacy, but appropriate. Not odd.

Buy the book if you must. I suspect your MU/P should imply a corner solution.


Blogger EclectEcon said...

I completely agree. I read Galbraith, but I could not, for the life of me, figure out why people thought he was so brilliant.

Then I read Capitalism and Freedom by Milton Friedman, and I could not, for the life of me, figure out why some people did not think he was brilliant.

7:16 AM  

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