Heterodox Economists: John Kenneth Galbraith

In this episode of "Ones and Tooze," Cameron Abadi and Adam Tooze delve into the life and economic thought of John Kenneth Galbraith, positioning him within their series on heterodox economists. They explore Galbraith's biography, his influential book "The Affluent Society" and its critique of American consumerism, and his later work "The New Industrial State," examining its relevance to contemporary issues like the power of large corporations. The discussion also covers Galbraith's decline in public influence, contrasting his approach with that of Paul Krugman, and analyzes Galbraith's "realist" perspective on economics and his theories on conventional wisdom, ultimately portraying him as a pragmatic and psychological realist.