Monday, May 01, 2006

In which I remark upon guns and butter

Sad to say, I haven't read many writings by iconoclastic economist John Kenneth Galbraith, who died Saturday at age 97. But from what I know of his works, they served as eloquent reminders that economic theories are incomplete if they focus exclusively on number-crunching while ignoring societal consequences and social responsibilities. It's a message we'd all do well to remember, and it's likely to be Galbraith's lasting legacy.

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