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Galbraith is the author of six books and several hundred scholarly and policy articles. His most recent book, "Unbearable Cost: Bush, Greenspan and the Economics of Empire, was published by Palgrave-MacMillan in late 2006. His next book will be “The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too,” forthcoming from The Free Press. Inequality and Industrial Change: A Global View (Cambridge University Press, 2001), is coedited with Maureen Berner and features contributions from six LBJ School Ph.D. students. Created Unequal: The Crisis in American Pay, was published by the Free Press in August 1998.
Monday, August 8, 2011 The Bad Deal (1 comments)
The die is cast. Practically nothing to address any real economic problem can now get done. Actual austerity will come slowly -- the cuts are not abrupt and some may yet be blocked -- but unless there is a radical change of events or mood it will come. Meanwhile as the economy stalls and despair deepens, the deficits and debt will continue to climb.
Sunday, December 5, 2010 Casting Light on "The Moment of Truth"
The Commission reverts to the great bogeyman of 1993, President Clinton's first year: The bond market. "If we do not act soon to reassure the markets," they write, "the risk of crisis will increase"" Oh really? You can look up the interest rates in the paper, any day.
Monday, July 12, 2010 Tremble, Banks, Tremble (5 comments)
The financial crisis in America isn't over. It's ongoing, it remains unresolved, and it stands in the way of full economic recovery. The cause, at the deepest level, was a breakdown in the rule of law. And it follows that the first step toward prosperity is to restore the rule of law in the financial sector.
Wednesday, June 9, 2010 Economic Crises Rooted in Fraud (5 comments)
Testimony before Senate Judiciary Committee in May: Traditional economists have failed miserably to understand the forces behind the financial crisis. Retreat from government oversight has led to fraud, and fraud has led to theft on a massive scale, and theft has led to economic meltdown. At its heart, therefore, the financial crisis was a breakdown in the rule of law in America.