James Galbraith

James K. Galbraith is the Lloyd M. Bentsen Jr. Chair in government-business relations at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin, a senior scholar of the Levy Economics Institute, and chair of the Board of Economists for Peace and Security. His most recent book is Unbearable Cost: Bush, Greenspan and the Economics of Empire.

Recent Articles

The Floodgates Have Opened

Hurricane Katrina and the death of New Orleans have changed everything, exposing the rot in government and the failures of the free-market worldview that has dominated our politics and economic policy for more than 30 years. Once again, the country must take stock of a terrible failure; once again we must change direction.

Reasonable Doubt

Anywhere else, the police killing of the young Brazilian Jean Charles de Menezes in the London Underground on July 22 would be called a gangland-style murder. Yet the authorities are unmoved. Sir Ian Blair, commissioner of Scotland Yard, stiffly warned that more shootings might follow. Home Secretary Charles Clarke stated “full support” for the police. Foreign Secretary Jack Straw gave the reason: Police must “have effective discretion to deal with what could be terrorist suicide outrages about to take place.”

But this raises a question. Have any “terrorist suicide outrages” actually taken place? Outrages, certainly. But were the bombs of July 7 suicide bombs, as every commentator has accepted?

1994: Boasting on Demand

“Are we really on a cliff by the sea, poised perilously above the waves and the rocks? Or are we in fact down by the beach, on a gentle slope of soft and agreeable sand?”

“Can't We Go Faster?”

TAP, September 1997

Bankers Versus Base

There may come a day, in January 2005, when the Democrats will come back to power. Can we perhaps divert ourselves from the campaign long enough to ask, what then?

The Democrats have a problem. Their base wants jobs and security. Their financial leadership wants a return to the Clinton formula of deficit reduction, leaving low interest rates to generate economic growth and jobs. John Kerry's emerging economic platform pays heavy homage to this formula, but it is unlikely to work out. A return to Bill Clinton's policies will not reproduce Bill Clinton's results. There are at least six reasons why this is so.

Works on Progress

Downsizing in America: Reality, Causes, and Consequences By William J. Baumol, Alan S. Blinder and Edward N. Wolff, Russell Sage Foundation, 321 pages, $29.95

The Betrayal of Work: How Low-Wage Jobs Fail 30 Million Americans and Their Families By Beth Shulman, The New Press, 255 pages, $25.95

Back in 1994, the late, great Bennett Harrison published Lean and Mean: The Changing Landscape of Corporate Power in the Age of Flexibility. It is about how "giant American companies have found ways to flourish in the new, more uncertain, more competitive environment." Harrison mentions "downsizing" a few times, but it is not a theme of his book.

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