The Abiding Economics of John Kenneth Galbraith (tags)
From The Great Crash, we have of course the conviction that financial panics affect real activity. No one in the 19th century or with experience of agriculture ever seriously doubted that the economy runs on credit or that real activity depends on banks. Only in the higher reaches of academic life could such a thing be denied.
The “Free Market”: The Greatest Terror Of All (tags)
The economic system of production we live in is called capitalism or the free market. We are supposed to be fortunate because we are free to starve to death amidst abundance. This form of social organiztion has not existed for all time and need not exist in the future. The first step in eliminating it is accepting this simple idea.