"Partly, the Russian system succeeds because, in contrast to the Western industrial economies, it makes full use of its manpower." - John Kenneth Galbraith writing in The New Yorker in 1984.The GI has two great entries on this man who recently passed away. It is interesting to note that two of the most famous economists to the American public are Milton Freidman and John Kenneth Galbraith. Two polar opposites. Galbraith was a man in love with the state and its control. And Friedman is a man in love with the power of freedom and the ingenuity of the populous.
It should be noted that economic debate is no more in fashion in this country. Now we have Lou Dobbs, Nancy Pelosi, and others from the left and the right who rail against basic economics. We need a debate between the real two sides of economics, Keynesian vs. Classic Liberal. Any takers?
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