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This book examines the life and works of John Kenneth Galbraith and demonstrates how his non-conventional approach to economics is critical to understanding the trouble that currently exists within economics and economic policies. With new perspectives on his work, this book proposes new answers to the economic challenges both industrialized and developing economies are facing.
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John Kenneth Galbraith and the Future of Economics Edited by Blandine Laperche and Dimitri Uzunidis
John Kenneth Galbraith and the Future of Economics
Also by Blandine Laperche LA FIRME ET L’INFORMATION, INNOVER POUR CONQUÉRIR L’INNOVATION ORCHESTRÉE (Edited) PROPRIÉTÉ INDUSTRIELLE ET INNOVATION (Edited)
Also by Dimitri Uzunidis COMMENT ONT-ILS RÉUSSI? L’HISTOIRE DES ENTREPRENEURS DU XVIIIE SIÈCLE À NOS JOURS (with S. Boutillier) LA LÉGENDE DE L’ENTREPRENEUR (with S. Boutillier) LE TRAVAIL BRADÉ, AUTOMATISATION, MONDIALISATION, FLEXIBILITÉ (with S. Boutillier) L’INNOVATION ET L’ÉCONOMIE CONTEMPORAINE: Espaces Cognitifs et Territoriaux (Edited) MONDIALISATION ET CITOYENNETÉ (Edited with J.- P. Michels)
John Kenneth Galbraith and the Future of Economics Edited by
Blandine Laperche and
Dimitri Uzunidis
Selection and editorial matter © Blandine Laperche and Dimitri Uzunidis 2005 Individual chapters © Contributors 2005 All rights reserved. No reproduction, copy or transmission of this publication may be made without written permission. No paragraph of this publication may be reproduced, copied or transmitted save with written permission or in accordance with the provisions of the Copyright, Designs and Patents Act 1988, or under the terms of any licence permitting limited copying issued by the Copyright Licensing Agency, 90 Tottenham Court Road, London W1T 4LP. Any person who does any unauthorized act in relation to this publication may be liable to criminal prosecution and civil claims for damages. The authors have asserted their rights to be identified as the authors of this work in accordance with the Copyright, Designs and Patents Act 1988. First published in 2005 by PALGRAVE MACMILLAN Houndmills, Basingstoke, Hampshire RG21 6XS and 175 Fifth Avenue, New York, N.Y. 10010 Companies and representatives throughout the world. PALGRAVE MACMILLAN is the global academic imprint of the Palgrave Macmillan division of St. Martin’s Press, LLC and of Palgrave Macmillan Ltd. Macmillan® is a registered trademark in the United States, United Kingdom and other countries. Palgrave is a registered trademark in the European Union and other countries. ISBN-13: 978–1–4039–9616–9 ISBN-10: 1–4039–9616–4 This book is printed on paper suitable for recycling and made from fully managed and sustained forest sources. A catalogue record for this book is available from the British Library. Library of Congress Cataloging-in-Publication Data John Kenneth Galbraith and the future of economics / edited by Blandine Laperche and Dimitri Uzunidis. p. cm. “Papers from the International Symposium honoring John Kenneth Galbraith held in Paris in September 2004”—Pref. Includes bibliographical references and index. ISBN 1–4039–9616–4 (cloth) 1. Galbraith, John Kenneth, 1908– 2. Economists – United States. 3. Economics. I. Galbraith, John Kenneth, 1908– II. Laperche, Blandine. III. Uzunidis, Dimitri. HB119.G33J64 2005 330.092—dc22 10 9 8 7 6 5 4 3 2 1 14 13 12 11 10 09 08 07 06 05 Printed and bound in Great Britain by Antony Rowe Ltd, Chippenham and Eastbourne
2005048689
Contents List of Figures
vii
List of Tables
viii
Acknowledgements
ix
List of Contributors
x xi
Preface by James K. Galbraith Introduction Blandine Laperche and Dimitri Uzunidis
1
Part I Back to John Kenneth Galbraith 1. Galbraith: a Partisan Appraisa