Friday, March 28, 2008

Galbraith, the new Friedman?

With the credit crunch and the looming recession, there seems to be a growing demand (and apparent appetite) for increased regulation (heck, even the Bush administration has gotten on the activisit government bandwagon)

For the last 20+ years, the patron saint of economic thought in the US was Milton Friedman. But given the above observations, and given that people like Greg Mankiw are linking to reviews of John Kenneth Galbraith (although there probably is not any implied endorsement of the reviewed ideas), I cannot help but think, in what I believe is a coming age of more liberalism in the US, will Galbraith be the new Friedman?

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