From Galbraith to Krugman and back: Galbraith, Krugman and 'Good Economics'

Duhs, L. A. (2008). From Galbraith to Krugman and back: Galbraith, Krugman and 'Good Economics'. Discussion Paper Series Discussion Paper No. 369, School of Economics, The University of Queensland.

Attached Files (Some files may be inaccessible until you login with your UQ eSpace credentials)
Name Description MIMEType Size Downloads
econdp_369_0608.pdf Discussion Paper no. 369 application/pdf 75.08KB 1615
Author Duhs, L. A.
Title From Galbraith to Krugman and back: Galbraith, Krugman and 'Good Economics'
School, Department or Centre School of Economics
Institution The University of Queensland
Open Access Status Other
Series Discussion Paper Series
Report Number Discussion Paper No. 369
Publication date 2008-06
Publisher The University of Queensland, School of Economics
Start page 1
End page 25
Total pages 25
Language eng
Subject 340100 Economic Theory
340302 History of Economic Thought
Abstract/Summary J.K. Galbraith's heyday was in the 1950s-70s. He was one of the most cited economists of his time, and attracted much praise and blame. In 1994, Krugman was a caustic critic and dismissed Galbraith's influence as a victory of style over substance. He castigated Galbraith as but “a policy entrepreneur”, yet by 2004, Krugman appeared to have undergone a striking metamorphosis, and his New York Times columns (2000-2006) conspicuously echo Galbraith’s understanding of socio-economic issues. This newer Krugman questions consumer sovereignty, bemoans the power of producers, questions the uses to which State power is put, worries about a medical-industrial complex, and laments the hijacking of public policy by private interests. Is this new Krugman merely a journalist, who has left scientific economics behind, or has he 'seen the light' as to what really constitutes ‘good economics’ and a more holistic scientific procedure?
Keyword John Kenneth Galbraith
Paul Krugman
social economics
political economy
scientific method

Document type: Working Paper
Collection: Discussion Papers (School of Economics)
Version Filter Type
Citation counts: Google Scholar Search Google Scholar
Created: Mon, 16 Jun 2008, 09:57:32 EST by Belinda Weaver on behalf of Library Corporate Services