Galbraith, noted economist and son of the late economist John Kenneth Galbraith, offers his views on the gap between conservative ideology and its use and abuse to cover up the George W. Bush administration’s Predator State, which takes advantage of the public sector and undermines public institutions for private profit. Galbraith reports that although most academics have abandoned conservative principles such as free trade, deregulation, and tax cuts for the wealthy, politicians from both parties continue to advance policies that, in reality, have turned regulatory agencies over to business lobbies, allowed the subprime mortgage foreclosures and banking crisis, and created Medicare’s drug plan, which legislates monopoly pricing for drug companies. Galbraith’s solutions include planning (contending that the U.S. does not plan); standards for wages, product and occupational safety, and the environment; and stabilizing financial and security policy. Not everyone will agree with Galbraith’s progressive beliefs, but he offers an important perspective in this thought-provoking book written in plain English. Excellent resource for library patrons. --Mary Whaley--This text refers to theHardcoveredition.
This book is an examination of the economic situation of the America at the end of the 2nd G. W. Bush administration, and how it developed. With no graphs or formulas, the book is instead a lucid essay on political economy; explaining how policy and political decisions lead to economic results. The author is James K. Galbraith, son of famous progressive economist John Kenneth Galbraith. Drawing on the works of his father and other famous western economists over the past 250 years, the author shows … more