This interview broadcast in 1994 is available at www.booknotes.org. Education is the great transformer. Economic development is a pacifier. FDR identified with the republic, and the republic with him, and he gave his whole life to the country
"The government has a specific responsibility for the behavior of the economy, that it doesn't work on its own autonomous course, but the government, when there's a recession, compensates by employment, by expansion of purchasing power, and in boom times corrects by being a restraining force.
The government should compensate for the waste of unemployment and the horror of mass unemployment by putting people to work, even-or especially- though that involved borrowing and expenditure for the employment.."
to read the interview with John Kenneth Galbraith who died at the age of 97, click on
http://www.booknotes.org/Transcript/index_print.asp?ProgramID=1225
Original: A Journey Through Economic Time