Economics and the Public Purpose: Difference between revisions
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| ⚫ | '''''Economics and the Public Purpose''''' is a [[1973 in literature|1973]] book by [[Harvard University|Harvard]] [[economist]] [[John Kenneth Galbraith]]. Galbraith advocates a "new socialism" as the solution, [[ |
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| image = EconomicsAndThePublicPurpose.jpg |
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| author = [[John Kenneth Galbraith]] |
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| pub_date = 1973 |
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| caption = First edition |
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| publisher = [[Houghton Mifflin]] |
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| ⚫ | '''''Economics and the Public Purpose''''' is a [[1973 in literature|1973]] book by [[Harvard University|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 [[corporation]]s. 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. |
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* [[Social democracy]] |
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* [[Democratic socialism]] |
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* [[Liberal socialism]] |
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{{John Kenneth Galbraith}} |
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[[Category:1973 in economic history]] |
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[[Category:Books by John Kenneth Galbraith]] |
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[[Category:Houghton Mifflin books]] |
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Revision as of 00:20, 2 October 2024
 First edition | |
| Author | John Kenneth Galbraith |
|---|---|
| Publisher | Houghton Mifflin |
Publication date | 1973 |
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.
See also
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