The Nature of Mass Poverty

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IUniverse. com, 2001 - Business & Economics - 164 pages
The Galbraith incisibeness, clarity, and wit are here brought to bear on the central aspects of the most important economic and social probelms of our time. The Nature of Mass Poverty proceeds from the author's conviction that most explanations of conditions in poor countries do not explain. They reflect, instead, the experience of the rich countries. Or they create cause out of cure. Capital and technical expertise being available from the rich countries, shortage of these becomes the cause of povery in the poor.

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About the author (2001)

John Kenneth Galbraith is a Canadian-born American economist who is perhaps the most widely read economist in the world. He taught at Harvard from 1934-1939 and then again from 1949-1975. An adviser to President John F. Kennedy, he served from 1961 to 1963 as U.S. ambassador to India. His style and wit in writing and his frequent media appearances have contributed greatly to his fame as an economist. Galbraith believes that it is not sufficient for government to manage the level of effective demand; government must manage the market itself. Galbraith stated in American Capitalism (1952) that the market is far from competitive, and governments and labor unions must serve as "countervailing power." He believes that ultimately "producer sovereignty" takes the place of consumer sovereignty and the producer - not the consumer - becomes ruler of the marketplace.

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