Wednesday, November 14, 2018

Galbraith At 110

The first time I heard about him was when I saw my dad showing a couple of the books of the great economist to some people in his study – which also served as living room. I was probably watching Spiderman – thank you Stan Lee – but kept an eye on what they were doing. You know just in case the massive personal library did have some cartoon books somewhere. It looked like he was a fan. How could he not be? They were both curious writers, sharp observers, had designed policies and even spent a fair amount of time in India.

I think the first JKG book I read from cover to cover was The Great Crash and funnily enough I read it in 1987 a year in which the Dow Jones collapsed by 508 points in a single day. It didn't take long to like the guy and learn plenty of stuff. For example it is in one of his books that I learned that we owe the sentence the survival of the fittest not to Charles Darwin but to Herbert Spencer. Elsewhere that trickle-down economics aka supply-side economics was in fact the horse and sparrow theory of the 1890s. It was obvious that Ken had read an extremely large amount of stuff. And it is important to read him to get the big picture, avoid groupthink and develop enough of self-preserving wit.

I always wondered if my dad and Galbraith had met. Thanks to Assange I found out that he was trying to get him to visit Mauritius back in 1974. They probably have. When I feel nostalgic about JKG I go read this obituary to be reminded that it takes several versions for a text to feel right and that spontaneity doesn't arrive before the fourth day. November 15 also turns out to be the birthday of another great: Guy Rozemont.

2 comments:

Unknown said...

That piece you wrote reminds me of the economics documentary: 'The four Horsemen'. I doubt you have not check that one yet. It is one of the best viewed documentaries on youtube. I suppose then they took many of the ideas of JKG to make that film.

Anyway here is the link if you wana check or revisit it again:

https://www.youtube.com/watch?v=5fbvquHSPJU&t=2s


Happy viewing and reflection.

Sanjay Jagatsingh said...

Don't think I watched it. I can see there's Chomsky, Stiglitz and a few others in there. Will give it a shot. Eventually. Thanks.