Economics and the Public Purpose
- Economics and the Public Purpose
"Economics and the Public Purpose" is a 1973 book by Harvard economist John Kenneth Galbraith. Galbraith advocates a "new socialism" as the solution, nationalising military production and public services such as health care. He also advocates introducing disciplined wage, salary, profit and price controls on the economy to reduce inequality and restrain the power of giant corporations. Socialisation of the "unduly weak industries and unduly strong ones" together with planning for the remainder would allow the public interest to be accorded its rightful preference, argues Galbraith, over private interests. He adds that this can only be achieved when there is a new belief system that rejects the orthodoxy of economics in the past. The new socialism needs to be achieved through gradual democratic political change.
ee also
*History of economic thought
Wikimedia Foundation.
2010.
Look at other dictionaries:
The Origin of the Family, Private Property and the State — Friedrich Engels Part of a series on … Wikipedia
Prostitution and the law — Prostitution legal and regulated … Wikipedia
Marmara University Faculty of Economics and Administrative Sciences — The Faculty of Economic and Administrative Sciences has 127 year history and provides education in 11 departments and in four languages: Turkish, English, German and French. Contents 1 Departments 2 History 3 Faculty Emblem … Wikipedia
Islamic economics in the world — This is a sub article of Islamic economic jurisprudence and Muslim world.Islamic economics in practice, or economic policies supported by self identified Islamic groups, has varied throughout its long history.Early Islamic economicsEarly reforms… … Wikipedia
Institutional economics — Institutional economics, known by some as institutionalist political economy, focuses on understanding the role of human made institutions in shaping economic behaviour. The institutional economists were typically critical of American social,… … Wikipedia
Public sociology — is an approach to the discipline which seeks to transcend the academy and engage wider audiences. Rather than being defined by a particular method, theory, or set of political values, public sociology may be seen as a style of sociology, a way of … Wikipedia
Public school — The term public school has two distinct (and virtually opposite) meanings depending on the location of usage: * in the United States, Australia and Canada: A school funded from tax revenue and most commonly administered to some degree by… … Wikipedia
Denmark and the euro — EU Eurozone (17) … Wikipedia
Air transport and the environment (United Kingdom) — Increasing demand for air travel in the UK has resulted in a conflict between the desire to cater for that demand and the environmental consequences of doing so. In the past 25 years the UK air transport industry has seen sustained growth, and… … Wikipedia
economics — /ek euh nom iks, ee keuh /, n. 1. (used with a sing. v.) the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. 2. (used with a pl. v.) financial considerations;… … Universalium
