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The Economics of Innocent Fraud: Truth for Our Time

3.59 of 5 stars 3.59  ·  rating details  ·  229 ratings  ·  45 reviews
John Kenneth Galbraith has long been at the center of American economics, in key positions of responsibility during the New Deal, World War II, and since, guiding policy and debate. His trenchant new book distills this lifetime of experience in the public and private sectors; it is a scathing critique of matters as they stand today.
Sounding the alarm about the increasing g
Hardcover, 62 pages
Published April 26th 2004 by Houghton Mifflin Harcourt (first published 2004)
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Mina Saher
الترجمه سيئه للغايه
و بس
This tract by Galbraith was an excellent foray into economics. This respected economist attempts to debunk some common misconceptions about modern economics and it's perceived as well are overlooked flaws. In the process he reveals why he thinks the Fed is irrelevant, why the private sector is not at all separate from the public sector, why management is by far the most powerful force in corporate economics, and why economic forecasting is by nature a flawed practice. All of his arguments are wo ...more
A concise book, little more than a pamphlet, but with heavy arguments and a forceful intellect.

Galbraith argues that in modern economies, big business unashamedly and openly conducts fraud and much of the narrative of modern business is a fallacy. In particular he believes that the conventional understanding of a company being run by its shareholders has been untrue for some time. In reality, management are only vaguely accountable to the shareholders and use this autonomy to award themselves la
Mohamed Gaballah
الترجمة سيئة جدااااااااااااااااا

التعليق على الكتاب
يصل المفكر الأقتصادى -جون جالبرث- فى نهاية كتابه - اقتصاد الاحتيال البرىء - إلى أن النظام الاقتصادى الحالى المسمى بنظام السوق هو اعادة صياغه فقط فى المسمى للنظام الرأسمالى بعد أن سأت سمعت الأخير كثيرا قبل الكساد المالى الكبير وما ارتبط به من الاحتكار و الاستغلال البشع للعمال من أجل مصالح الكبار فقط و مصالح قلة صغيرة من الشعب.

و أن الحقيقة اليوم أن الادارات للشركات المساهمه هى المتحكم الحقيقى فى السوق، و فى مفاصل الدول و سياستها بغير ما هو متصور
You can read this short book in an hour, but you’ll be thinking about it for much longer. Galbraith, a man of impeccable credentials, points out some of the unspoken (by mainstream culture) truths of our times:

“The free-market system” is the meaningless replacement term for what capitalism has become, and what should truthfully be called the “corporate system.”
We hide a deep social injustice by referring to two entirely separate things with same word: “work.” Work is used for both the painful li
Galbraith wrote this book in 2004 at age 96 or so, so don't expect the fiery wit and rapid fire social observation of his middle age. But what you will find is a deep moral awareness of all that has gone wrong in the present economic scene, with a startingly prescient prediction of our current subprime mess.

There's also a great rationale for being a big tipper:

"Those who most enjoy work . . . are all but universally the best paid. This is accepted. Low wage scales are for those in repetitive,
Nada R
أنا واثقه ان الكتاب حلو جدا بقدر ثقتي ان المترجم تعليم صرف صحي !
يا اما كان بيترجم برجليه -_-
اخدت وقت كبير جدا علشان اجمع كلام مفيد جمب بعضه
Ahmed Ramadan
جون كينيث واحد من اوائل الكتاب الذين فضحوا و كشفوا مساؤى الأقتصاد الحديث الذى يعد ستار لنظام رأسمالى متوحش تتلاعب به كبرى الشركات و تسيطر به على الحياة الأقتصادية و بالتالى التوجه العام للدول لتصل فى بعض الأحيان لقدرتها على تحريك آلة الحرب لتحقيق مصالح لها كما حدث فى النظام الأمريكى الذى يحركه نظام السوق و يدفعه إلى شن ضربات ضد دول أخرى من أجل الحصول على عقود أعادة الأعمار.. كتاب رائع يستحق القراءة و إن عاب عليه سوء الترجمة
Tony duncan
Aug 24, 2008 Tony duncan rated it 5 of 5 stars
Recommends it for: interested in social political and economic understanding of culture
This book is 62 pages long and it is brilliant. When I read this a couple of years ago I gave it to a number of people who call themeselves progressives. None of them were willing to discuss it with me. I don't know if they didn't read it or what. But here is one of the most influential and certainly one of the most broadly educated men of the 2nd half of the 20th century who is very clearly exposing the destructive nature of capitalism in the west.

His book is disconcerting because it pretty mu
ترجمة سيئة جدا، اما الكتاب نفسه جيد، يكشف عن الوجه القبيح للرأسمالية حيث هيمنة الشركات العملافة على الاقتصاد وتحكمها في كل الخيوط سواء فيما يتعلق باستمالة المستهلكين او بالتحكم في مراكز صنع القرار في الدولة، ويعطي الكاتب الامثلة على ذلك في الولايات المتحدة الامريكية على وجه الخصوص حيث عاش وعمل في عدة اماكن قريبة من مراكز صنع القرار الاقتصادي.
I love reading JK Galbraith. I heard him speak once when I was at university. He was well into his 80's by then and completely deaf so the question and answer session was a bit of a shambles. When he was speaking however he was witty, forthright, compassionate and provocative.

Whether you agree with this book or not it is really enjoyable. For those on the left of politics it is a succinct summary of that is wrong in our current capitalist system. Those on the right will find it provocative but
Six ans après, et le crash de 2008 derrière nous, ce petit livre se révèle encore plus visionnaire. En dénonçant les mensonges du système économique actuel, le capitalisme de façade qui a retiré le pouvoir aux actionnaires pour le donner aux dirigeants, le pouvoir du complexe militaro-industriel qui a pratiquement privatisé la défense, l'impuissance construite de la FED, l'absolue prédominance du financier sur le productif, et le culte du PIB matériel aux dépends des valeurs humanistes, il défin ...more
Dec 31, 2007 Paul rated it 3 of 5 stars  ·  review of another edition
Recommends it for: anyone
Galbraith, the celebrated Harvard economist, expands upon his concept of conventional wisdom to show other ways which most of us accept what isn't true and are blind to reality. He does it in 60 pages of somewhat whimsical text. It is his last testament as he died shortly after its publication.

Naturally his theme is economic distortions that we accept as inevitable because we have come to believe the conventional wisdom rather than the myths of democracy and the hold that corporate managers have
Procyon Lotor
Poor standards? Pungolato dai recenti eventi, testimonianza di non recenti n estemporanee idiozie, desideroso di rinfrescare la memoria ed irrobustire e corroborare gli impianti teorici, prendo la scaletta e vado nell'irraggiungibile altrimenti scaffale dove tengo i libri d'economia, psicologia e filosofia. La vicinanza non inganni: casuale. Vero che s'informa a possenti elementi psicologici e perch no, pure filosofici ma potrebbe stare pure presso i libri giornalistici o storici, e pure in sva ...more
Nov 12, 2007 Brian rated it 2 of 5 stars
Recommends it for: Senile cynicists
I think I understood what Galbraith was trying to convey: Capitalism bad, Socialism bad, everything bad. It took less than 80 pages to get that across to the reader, which was a plus. Making even $20 on 80 pages of incoherent rambling, a less than innocent fraud. Maybe this wasn't the best paper for me to start with. Maybe Galbraith was wiser 40 years ago. Now? Not so much.
Ayman Osama
هناك فرق بين الترجمة وبين تجميع جمل متناثرة وهو ما يبدو فيه د. محمد رضا علي العدل محترفاً
الكتاب يضم أفكار متناثرة تريد أن توجّه رسالة واحدة مفادها "الرأسمالية متوحشة" وهي مفهومة منذ المقدمة وحتى فصل الخاتمة وما بينهما لا يضيف الكثير

وأخيراً، ندمان إني دفعت 2 جنيه في الكلام ده الحقيقة :)
Teresa Dragonfire
En este ensayo Galbraith señala algunas de las grandes verdades de nuestro tiempo, muchas de ellas controvertidas, otras encubiertas y algunas tan sobreentendidas que se pasan por alto. Con un lenguaje sencillo y que evita los tecnicismos, el economista norteamericano cuestiona las bases de un sistema capitalista plagado de fraudes.

Haciendo una distinción entre lo que denomina la “sabiduría convencional” y la realidad en los ámbitos políticos, económicos y sociales, el autor nos demuestra cómo a
Steve Mitchell
I can think of no higher praise than to say that I read this book on economics during a night shift and it did not send me to sleep!
James Payne
The section on the ideological uses of the word 'work' is especially useful.
Ahmed Elkamhawi
I read it in Arabic, this man was a genius
This book, apparently written espescially for publication in the Pocket Penguin 70s set, deserves reading and rereading. Galbraith's views, especially about the Federal Reserve Bank's lack of influence in the evonomy, and the stark difference between economic theory and economic reality, could not have made him a popular figure in the economic sphere. And his controversial statements just keep stacking up. When, in the last two pages, he states: 'Mass slaughter has become the ultimate civilized ...more
Quando c'è un problema da risolvere, la prima cosa da fare dovrebbe essere un bell'esame di realtà, tenendo ben presenti i fatti, evitando dietrologie, teorie del complotto, facili capri espiatori. Quando il trucco c'è e si vede però, o si nasconde dietro "l'inoffensività" del luogo comune, proprio allora risulta meglio nascosto, perché è visibile e parte di un paesaggio eterogeneo e "naturale". Ed anche più pericoloso: per la sua innocenza. Forse proprio per questo le affermazioni di Galbraith ...more
Aug 16, 2014 Jayash rated it 4 of 5 stars
Recommends it for: Everyone
Recommended to Jayash by: Goodreads
John Kenneth Galbraith offers his profound insights into how the U.S. economy functions today, notably the dominant influence of large corporate interests in the process of public decision-making (specifically, in military and environment). In a very concise yet stringent manner, he makes readers think about the prospects of both innocent and not-so-innocent fraudulent cases. Unlike the prominent U.S. capitalists such as Carnegie, Rockefeller and Duke in the nineteenth century, modern corporatio ...more
بغض النظر عن مشاكل الترجمة, الكتاب اصلا سيء؛ لا يحتوى على أي أفكار جديدة, و لا يحتوي أصلا على أي "محتوى", مجرد كلام عام فى الهواء عن ان النظام الحالى متوحش و احنا عايزين نحافظ على نفس النظام بس يبقى أقل توحشا و من غير "احتيال", كما لو أن الكاتب كان عايز يريح ضميره و خلاص فكتب مقالتين فى اى جرنال و هم راحوا حولوهم لكتاب.
مصطفي يحيي
The attitude toward economics and it's applied methods in different communities provided by the author here,is similar in my opinion - with the common trend of the non-monetary economy in some ways: the economy based on fraud and lies and measuring the progress of societies depending on the physical measurement (using the currency) and converting the international economics and politics into a form of colonialism. This is consistent to a large extent, from another angle, with orientation of rest ...more
Ahmed Tamer
واضح من مقدمة المترجم إنه بيعرف يكتب عربي ، طب إيه السر وراء ترجمة "جوجل" العقيمة في الكتاب ؟ ، ترجمة ردئية جداً طمست المعنى ، بسببها ضاعت الفكرة التي تدور حولها الكتاب وأفكار الفصول ، طبعاً التقيم ناتج على أساس ما فهمته بعد فك الشيفرة الغوغلية العقيمة ، شيء مؤسف إن كتاب لجون كنث جالبيرث يضيع بسبب ترجمة عقيمة ..
omar ghannam
الى كل من قرا الكتاب واعجبه انصحك بقرائة كتاب "الاغتيال الاقتصادى" لجون بيركنز , الكتاب رائع ومبسط وينم عن عقلية كبيرة ونظرة خبير ولكنه يناقش قضية محدودة نوعا ما تتعلق بالكوربوريشن بالاضافة الى ان الترجمة قللت من تقيمى للكتاب
انصح بقرائته بالانجليزية لمن يستطيع
Terrible book. It's half complaining about capitalism, half complaining about management. The complete impugning of business within, is without real solutions, as the book is basically one long lamentation. Galbraith doesn't like his view of "capitalism", and would like to call it something else (but cannot, because the evil businesses have aligned the culture to prevent that). The only thing that could "fix" this mess is the government, but IT cannot because it's in bed with the dirty, evil, bu ...more
Excellent, concise and informative. J.K. Galbraith provides a great insight into a complex subject in a manner that is easy to follow once you've gotten use to his - to my British ear, at least - unusual turn of phrase.
Abdelrahman Mahmoud
الكتاب سيء لا يقدم الجديد..!
كنت أحسبه ككتاب "الإغتيال الإقتصادي للأمم"
ولكنه لا يقدم معلومات جديدة يتكلم عن أعراض للإقتصاد الأميركي..
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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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