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Title:The great crisis and the American response PDF Logo
Authors:Galbraith, James K.
Issue Date:2010
Series/Report no.:Public policy brief // Jerome Levy Economics Institute of Bard College 112
Abstract:Senior Scholar James K. Galbraith argues the fundamental illusion of viewing the US economy through the free-market prism of deregulation, privatization, and a benevolent government operating mainly through monetary stabilization - the prevailing view among economists over the past three decades. The real sources of American economic power, he says, lie with those who manage and control the public-private sectors - especially the public institutions in those sectors - and who often have a political agenda in hand. Galbraith calls this the predator state: a government that is intent, not upon restructuring the rules in any idealistic way, but upon using the existing institutions as a device for political patronage on a grand scale. And it is closely aligned with financial deregulation.
ISBN:978-1-936192-09-0
Document Type:Research Report
Appears in Collections:Public Policy Briefs, Levy Economics Institute of Bard College

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