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James K. Galbraith

James K. Galbraith

39 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 the forthcoming Entropy Economics: The Living Basis of Value and Production (University of Chicago Press).

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  1. Mainstream Economics’ Medieval Inflation Medicine
    galbraith31_Kent Nishimura  Los Angeles Times via Getty Images_fed Kent Nishimura/Los Angeles Times via Getty Images

    Mainstream Economics’ Medieval Inflation Medicine

    Dec 29, 2023 James K. Galbraith shows how prevailing economic thinking is analogous to the theory of the “four humors” in ancient medicine.

  2. Will High Interest Rates Trigger a Debt Disaster?
    galbraith30_Win McNameeGetty Images_powell Win McNamee/Getty Images

    Will High Interest Rates Trigger a Debt Disaster?

    Dec 1, 2023 James K. Galbraith shows that renewed warnings about dangerous debt-to-GDP ratios are belied by history and recent experience.

  3. Why Mainstream Economics Got Inflation Wrong
    galbraith29_STEFANI REYNOLDSAFP via Getty Images_jeromepowell Stefani Reynolds/AFP via Getty Images

    Why Mainstream Economics Got Inflation Wrong

    Nov 15, 2023 James K. Galbraith thinks the misdiagnosis of price growth in 2021-22 speaks to a larger problem with the discipline.

  4. Down on the Biden Economy
    galbraith28_ Chip SomodevillaGetty Images_biden Chip Somodevilla/Getty Images

    Down on the Biden Economy

    Sep 20, 2023 James K. Galbraith thinks the failure of wages to keep up with inflation explains much of the public’s dour mood.

  5. America’s “New” China Narrative
    galbraith27_ HECTOR RETAMALAFP via Getty Images_china economy HECTOR RETAMAL/AFP via Getty Images

    America’s “New” China Narrative

    Aug 17, 2023 James K. Galbraith thinks the current US conventional wisdom misses the point and is being driven by ulterior motives.

  1. bp iran israel Photo by Mostafa Alkharouf/Anadolu via Getty Images

    An Iran-Israel War?

    Iran’s mass ballistic missile and drone attack on Israel last week raised anew the specter of a widening Middle East war that draws in Iran and its proxies, as well as Western countries like the United States. The urgent need to defuse tensions – starting by ending Israel’s war in Gaza and pursuing a lasting political solution to the Israeli-Palestinian conflict – is obvious, but can it be done?

  2. nasheed3_MANDEL NGANAFP via Getty Images_georgieva MANDEL NGAN/AFP via Getty Images

    What a Climate-Aligned IMF Would Look Like

    Mohamed Nasheed & Rakesh Mohan explain how the managing director can fully position the institution to help the most vulnerable countries.
  3. ghosh76_Kristin Palitzapicture alliance via Getty Images_afrigen Kristin Palitza/picture alliance via Getty Images

    The Key to Transforming African Health

    Jayati Ghosh highlights efforts to foster scientific innovation and drug manufacturing on the continent.
  4. op_roach3_ Kevin FrayerGetty Images_china lagging consumption Kevin Frayer/Getty Images

    China’s Rebalancing Imperative

    Stephen S. Roach

    The most successful development stories almost always involve major shifts in the sources of economic growth, which in turn allow economies to reinvent themselves out of necessity or by design. In China, the interplay of mounting external pressures, lagging household consumption, and falling productivity will increasingly shape China’s policy choices in the years ahead.

    explains why the Chinese authorities should switch to a consumption- and productivity-led growth model.
  5. castaneda88_GERARDO MENOSCALAFP via Getty Images_latin america safety GERARDO MENOSCAL/AFP via Getty Images

    From Welfare State to Safe State in Latin America

    Jorge G. Castañeda & Carlos Ominami

    Designing a progressive anti-violence strategy that delivers the safety for which a huge share of Latin Americans crave is perhaps the most difficult challenge facing many of the region’s governments. But it is also the most important.

    urge the region’s progressives to start treating security as an essential component of social protection.
  6. ocampo57_Celal GunesAnadolu Agency via Getty Images_imf Celal Gunes/Anadolu Agency via Getty Images

    The Urgency of Sovereign-Debt Restructuring

    José Antonio Ocampo highlights the need for a comprehensive mechanism to deliver relief to low- and middle-income countries.
  7. fischer215_Mostafa AlkharoufAnadolu via Getty Images_tel aviv iran attack Mostafa Alkharouf/Anadolu via Getty Images

    The Gaza War Goes Global

    Joschka Fischer considers the implications of Iran’s unprecedented decision to launch a direct strike on Israeli territory.
  8. nyirinkindi1_ISAAC KASAMANIAFP via Getty Images_women phone fintech ISAAC KASAMANI/AFP via Getty Images

    Gender-Neutral Fintech Isn’t Working for Women

    Emmanuel Nyirinkindi & Jessica Schnabel show that the industry is not fully delivering on its promise to accelerate financial inclusion.
  9. evans72_Alex WongGetty Images_palestine statehood Alex Wong/Getty Images

    The Urgency of Palestinian Statehood

    Gareth Evans explains why formal international recognition is crucial to ending the intolerable status quo.

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