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26 publications found, searching for 'James K. Galbraith '
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Working Paper No. 1071December 10, 2024
Tilting at Windmills
AbstractOriginally issued as EDI Working Paper No. 14, May 2023 The Central Bank of the United States, the Federal Reserve, has a dual mandate to maintain both full employment and…more
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Policy Note No. 2023/3July 24, 2023
In Defense of Low Interest Rates
AbstractIn recalling John Maynard Keynes’s revolutionary theory of interest, reviewing the doctrines Keynes sought to overthrow, and analyzing the structural transformations of the US economy, James K. Galbraith maintains there…more
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Policy Note No. 2May 04, 2011
Is the Federal Debt Unsustainable?
AbstractBy general agreement, the federal budget is on an “unsustainable path.” Try typing the phrase into Google News: 19 of the first 20 hits refer to the federal debt. But…more
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Public Policy Brief No. 112June 28, 2010
Η μεγάλη κρίση και η αμερικανική αντίδραση
AbstractΟ Ανώτατος Μελετητής James K. Galbraith εξετάζει κριτικά την ψευδαίσθηση του να βλέ̟πει κανείς την οικονομία των ΗΠΑ μέσα από το πρίσμα της ελεύθερης αγοράς, της α̟πορρύθμισης, των ιδιωτικο̟ποιήσεων και…more
Download Κείμενο (Brief) Δημόσιας Πολιτικής Νο. 112, 2010 PDF (1,009.09 KB) -
Public Policy Brief No. 112June 28, 2010
The Great Crisis and the American Response
AbstractSenior Scholar James K. Galbraith argues the fundamental illusion of viewing the US economy through the free-market prism of deregulation, privatization, and a benevolent government operating mainly through monetary stabilization—the…more
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Public Policy Brief No. 103August 21, 2009
Financial and Monetary Issues as the Crisis Unfolds
AbstractA group of experts associated with the Economists for Peace and Security and the Initiative for Rethinking the Economy met recently in Paris to discuss financial and monetary issues; their…more
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TestimonyJuly 14, 2009
Statement of Professor James K. Galbraith to the Subcommittee on Domestic Monetary Policy and Technology, Committee on Financial Services, US House of Representatives
AbstractOn July 9, 2009, Senior Scholar James K. Galbraith testified before the House Financial Services Committee regarding the functions of the Federal Reserve under the Obama administration’s proposals for financial…more
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Strategic AnalysisApril 02, 2009
A “People First” Strategy: Credit Cannot Flow When There Are No Creditworthy Borrowers or Profitable Projects
AbstractIn 1930, John Maynard Keynes wrote: “The world has been slow to realise that we are living this year in the shadow of one of the greatest economic catastrophes of…more
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Public Policy Brief No. 98February 19, 2009
The Case Against Intergenerational Accounting: The Accounting Campaign Against Social Security and Medicare
AbstractThe Federal Accounting Standards Advisory Board (FASAB) has proposed subjecting the entire federal budget to “intergenerational accounting”—which purports to calculate the debt burden our generation will leave for future generations—and…more
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Policy Note No. 1May 27, 2008
The Collapse of Monetarism and the Irrelevance of the New Monetary Consensus
AbstractWhat in monetarism, and what in the "new monetary consensus," led to a correct or even remotely relevant anticipation of the extraordinary financial crisis that broke over the housing sector,…more
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Policy NoteMay 27, 2008
The Collapse of Monetarism and the Irrelevance of the New Monetary Consensus
AbstractWhat in monetarism, and what in the “new monetary consensus,” led to a correct or even remotely relevant anticipation of the extraordinary financial crisis that broke over the housing sector,…more
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Policy NoteMay 27, 2008
The Collapse of Monetarism and the Irrelevance of the New Monetary Consensus
Abstract“What in monetarism, and what in the ‘new monetary consensus,’ led to a correct or even remotely relevant anticipation of the extraordinary financial crisis that broke over the housing sector,…more
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Working Paper No. 511August 15, 2007
The Fed’s Real Reaction Function
AbstractUsing a VAR model of the American economy from 1984 to 2003, we find that, contrary to official claims, the Federal Reserve does not target inflation or react to “inflation…more
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Public Policy Brief No. 87November 29, 2006
Maastricht 2042 and the Fate of Europe
AbstractUnemployment in the European Union (EU) is a serious problem that threatens to disrupt the integration of accession countries, the character of individual countries, and the continued existence of the…more
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Policy Note No. 2February 20, 2006
The Fiscal Facts
AbstractToday’s federal budget deficits are a preoccupation of many American citizens and more than a few political leaders. Is the American government going bankrupt? Does our fiscal condition warrant radical…more
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Public Policy Brief No. 81June 27, 2005
Breaking Out of the Deficit Trap
AbstractFor some time, Levy Institute scholars have been engaged with issues related to the current account, government, and private sector balances. We have argued that the existing imbalances in these…more
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Public Policy Brief No. 72August 02, 2003
What Is the American Model Really About?
AbstractThe “American Model” serves as a point of reference in discussions of economic policy around the world, especially in Europe. Many claim that the American version of the free market…more
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Policy Note No. 1January 01, 2003
The Big Fix
AbstractKeynesian economics is back. As John Maynard Keynes stressed, total spending matters—and not who does it or for what purpose. Tax cuts and deficit spending are, therefore, on the agenda;…more
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Policy Note No. 2February 01, 2002
The Brazilian Swindle and the Larger International Monetary Problem
AbstractThe International Monetary Fund has offered Brazil a $30 billion loan, most of it reserved for next year, on condition that the country continue to run a large primary surplus…more
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Policy Note No. 8August 01, 2001
The War Economy
AbstractThere is no chance that events will right themselves in a few weeks, or that we will be saved by such underlying factors as technology and productivity growth or by…more
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Policy Note No. 4April 01, 2001
Put Your Chips on 35
AbstractAccording to Federal Reserve Chairman Alan Greenspan, we live in a time “profoundly different from the typical postwar business cycle.” Our experiences have “defied conventional wisdom” and mark ”veritable shifts…more
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Policy Note No. 2February 05, 2000
Is the New Economy Rewriting the Rules?
AbstractFull employment without inflation can continue—with the right leadership, prudent policy changes to manage the dangers, and cooperation from all branches of the government.
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Working Paper No. 259December 01, 1998
Constructing Long and Dense Time-Series of Inequality Using the Theil Index
AbstractYear-to-year economy-wide measures of income distribution, such as the Gini coefficient, are rarely available for long periods except in a few developed countries, and as a result few analyses of…more
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Working Paper No. 249August 01, 1998
The American Wage Structure, 1920–1947
AbstractThis paper uses industrial wage data and a systematic if unconventional selection of methods to examine changes in the inter-industry structure of wages between 1920 and 1947. We first sort…more
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