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Economics and the Public Purpose

3.97 of 5 stars 3.97  ·  rating details  ·  33 ratings  ·  3 reviews
Economics and the Public Purpose is a 1973 book by Harvard economist John Kenneth Galbraith. Galbraith advocates a "new socialism" as the solution, nationalising military production & public services such as health care. He also advocates introducing disciplined wage, salary, profit & price controls on the economy to reduce inequality & restrain the power of gi ...more
Hardcover, 381 pages
Published September 28th 1973 by Houghton Mifflin Company (Boston) (first published 1973)
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Erik Graff
Dec 05, 2014 Erik Graff rated it 5 of 5 stars
Recommends it for: US citizens
Recommended to Erik by: David Schweickart
So far as I know, this is the book in which John Kenneth Galbraith came out of the closet and declared himself a democratic socialist. I read it, along with American Capitalism (where much is prefigured) and The New Industrial State, for David Schweickart's course on Capitalism, Democracy, Socialism during the first semester of 1981/82 at Loyola University Chicago.
Aug 01, 2007 Nada rated it 2 of 5 stars  ·  review of another edition
Recommends it for: economic historians
I'm not sure exactly which audience this book was intended for, but right now, in 2007, it's not especially worth reading. He often speaks as if a number of well-known economic theories did not exist, and makes very obvious oversimplifications. Maybe this book was intended to be a clarion call to the semi-educated? Economics without math for the politico?
Nov 23, 2010 Zachary marked it as to-read
My copy of this book literally fell apart so I'm putting it on hold for a while.
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John Kenneth Galbraith (10/15/1908–4/29/2006) was a Canadian-American economist. He was a Keynesian & an institutionalist, a leading proponent of 20th-century American liberalism & democratic socialism. His books on economic topics were bestsellers in the '50s & '60s. A prolific author, he produced four dozen books & over a 1000 articles on many subjects. Among his most famous work ...more
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