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James K. Galbraith

James K. Galbraith

47 commentaries
1 videos & podcasts

James K. Galbraith, Professor of Government and Chair in Government/Business Relations at the University of Texas at Austin, is a former staff economist for the House Banking Committee and a former executive director of the Joint Economic Committee of Congress. From 1993-97, he served as chief technical adviser for macroeconomic reform to China’s State Planning Commission. He is the co-author (with Jing Chen) of Entropy Economics: The Living Basis of Value and Production (University of Chicago Press, 2025).

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  1. Economists’ Way Out of the Wilderness
    galbraith39_rudall30Getty Images_businessmanforest rudall30/Getty Images

    Economists’ Way Out of the Wilderness

    Jan 20, 2025 James K. Galbraith argues that the continued dominance of nineteenth-century thinking has resulted in a catalogue of failure.

  2. The Democrats Committed Suicide This Year
    galbraith38_MandelNganGettyImages_democrats_funeral Mandel Ngan/Getty Images

    The Democrats Committed Suicide This Year

    Nov 13, 2024 James K. Galbraith thinks the party has only itself to blame for losing the 2024 election on low voter turnout.

  3. Elon Musk Gets Trump’s Economic Plans Partly Right
    galbraith37_Anna MoneymakerGetty Images_elonmusktrump Anna Moneymaker/Getty Images

    Elon Musk Gets Trump’s Economic Plans Partly Right

    Nov 1, 2024 James K. Galbraith argues that only a tycoon could love Donald Trump’s proposed tariffs, deportations, and spending cuts.

  4. Inflation Shamanism
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    Inflation Shamanism

    Sep 20, 2024 James K. Galbraith marvels at the Federal Reserve's ability to win praise for positive outcomes it did not cause.

  5. Economic Theory for the Real World
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    Economic Theory for the Real World

    Sep 9, 2024 James K. Galbraith offers a new conceptual framework based on twenty-first-century science and simple observation.

  1. rogoff259_Kayla BartkowskiGettyImages_javier_milei Kayla Bartkowski/Getty Images

    What Trump 2.0 Means for Africa and Latin America

    Kenneth Rogoff

    US President Donald Trump’s decision to shut down USAID will deal a severe blow to African countries, weakening public-health systems and eroding American credibility. But Trump’s return could trigger a long-overdue rightward shift in Latin America after decades of failed socialist experiments.

    highlights the far-reaching implications of the new administration’s move to slash foreign-aid funding.
  2. madgavkar21_Picture AllianceGettyImages_demographic_crisis Picture Alliance/Getty Images

    Emerging Economies Must Get Rich Before They Get Old

    Anu Madgavkar & Marc Canal Noguer recommend policies that would mitigate the impact of increased longevity and declining birth rates.
  3. coyle42_Andrew HarnikGetty Images_muskchainsaw Andrew Harnik/Getty Images

    Musk and DOGE Are Doing It Wrong

    Diane Coyle highlights the fundamental flaw in the Trump administration’s push to cut red tape and curb wasteful spending.
  4. buruma224_WPA PoolGettyImages_europe_summit WPA Pool/Getty Images

    Who Will Lead the Democratic World?

    Ian Buruma thinks the onus of defending our political freedoms will be on two countries that once tried to destroy them.
  5. blanquer1_Leonardo CendamoGetty Images_boualemsansal Leonardo Cendamo/Getty Images

    The World Must Rally Around Algeria’s Hunger Artist

    Jean-Michel Blanquer calls for global solidarity with the writer Boualem Sansal, unjustly detained and dying for freedom.
  6. marin30_Hu XiaofeiVCG via Getty Images_carproductionrobots Hu Xiaofei/VCG via Getty Images

    The End of Globalization as We Know It

    Dalia Marin examines how rising uncertainty and progress on automation have changed firms' views on global value chains.
  7. lachman2_Nur PhotoGettyImages_euros Nur Photo/Getty Images

    Will Trump Trigger a Eurozone Debt Crisis?

    Desmond Lachman hopes the US president recognizes that his proposed tariffs could quickly blow back on the US.
  8. klee24_Andry DenisahSOPA ImagesLightRocket via Getty Images_indonesianickel Andry Denisah/SOPA Images/LightRocket via Getty Images

    Indonesia’s Incomplete Industrial Strategy

    Keun Lee & Marco Kamiya point out that, for emerging and developing economies, attracting foreign direct investment is not enough.
  9. kosenko4_Justin TallisGettyImages_zelensky_starmer_macron Justin Tallis/Getty Images

    Europe’s Powerful Tool Against Russia

    Andrew Kosenko & Joseph E. Stiglitz

    If European leaders want to follow through on their statements in support of Ukraine following America’s betrayal of the country, they must seize the moment by seizing Russia’s assets. Europe has become the world’s bulwark against the rising tide of authoritarianism, and it can no longer afford to hide behind legalistic excuses.

    urge European governments to seize the $220 billion of Russian assets frozen in their jurisdictions.

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