Tuesday, October 28, 2008

Galbraith Centenary

One hundred years ago a wise and witty economist, JK Galbraith, was born on the shores of Lake Ontario.

There's a good appreciation of Galbraith by a Black Country Bloke.

In the Affluent Society, Galbraith wrote:
People are the common denominator of progress. So... no improvement is possible with unimproved people, and advance is certain when people are liberated and educated. It would be wrong to dismiss the importance of roads, railroads, power plants, mills, and the other familiar furniture of economic development.... But we are coming to realize... that there is a certain sterility in economic monuments that stand alone in a sea of illiteracy. Conquest of illiteracy comes first".
Read more. Read widely. Read wisely.

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