Abstract
In Economics and the Public Purpose, Galbraith slightly emends the overall model of The New Industrial State and sharpens and elaborates upon its implications. The development of his thinking that he integrates into his model of the new industrial state in this book was foreshadowed by two important essays initially delivered to the American Economic Association, ‘Economics as a System of Belief’ in 1969 (republished in Galbraith, 1971a) and ‘Power and the Useful Economist’ in 1972 (also republished, 1979c). Galbraith regards the latter essay as ‘the best short account of my general economic position’ (1979c, p. 3).
The persistence of a way of thinking which somehow fails to take account of what are proving to be the basic realities of modem economic life is itself one of the great economic mysteries of our civilization.
(C.E. Ayres, 1944)
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© 1996 James Ronald Stanfield
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Stanfield, J.R. (1996). Economic Doctrine and the Public Purpose. In: John Kenneth Galbraith. Contemporary Economists. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-24753-0_6
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DOI: https://doi.org/10.1007/978-1-349-24753-0_6
Publisher Name: Palgrave Macmillan, London
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