The Trouble With Economists

Galbraith, John Kenneth
January 1978
New Republic;1/14/78, Vol. 178 Issue 2, p15
Focuses on the role of economists in the economic policy formulation in the U.S., with reference to the Great Depression. Failure of the government to increase job opportunities to the unemployed, which rose to around a quarter of the labor force during the depression; Statement made by president of the New York Federal Reserve Bank, warning the effects of the failure of big New York banks; Effort made by the economists to control the deflation that, brought the wholesale price index down by more than a third.


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