John Kenneth Galbraith
John Kenneth Galbraith[a] OC (October 15, 1908 – April 29, 2006), also known as Ken Galbraith, was a Canadian-American economist, diplomat, public official, and intellectual. His books on economic topics were bestsellers from the 1950s through the 2000s. As an economist, he leaned toward post-Keynesian economics from an institutionalist perspective.[1][2]
John Kenneth Galbraith
October 15, 1908
Iona Station, Ontario, Canada
April 29, 2006 (aged 97)
Cambridge, Massachusetts, U.S.
- Canada
- United States (from 1937)
- Harvard University
- Princeton University
- University of California, Berkeley
- Lomonosov Gold Medal (1993)
- Officer of the Order of Canada (1997)
- Presidential Medal of Freedom (2000)
Galbraith was a long-time Harvard faculty member and stayed with Harvard University for half a century as a professor of economics.[3] He was a prolific author and wrote four dozen books, including several novels, and published more than a thousand articles and essays on various subjects. Among his works was a trilogy on economics, American Capitalism (1952), The Affluent Society (1958), and The New Industrial State (1967). Some of his work has been criticized by economists Milton Friedman, Paul Krugman, Robert Solow, and Thomas Sowell.
Galbraith was active in Democratic Party politics, serving in the administrations of Franklin D. Roosevelt, Harry S. Truman, John F. Kennedy, and Lyndon B. Johnson. He served as United States Ambassador to India under the Kennedy administration. His political activism, literary output and outspokenness brought him wide fame during his lifetime.[4][5] Galbraith was one of the few to receive both the World War II Medal of Freedom (1946) and the Presidential Medal of Freedom (2000) for his public service and contributions to science.
Life[edit]
Early life[edit]
Galbraith was born on October 15, 1908, to Canadians of Scottish descent, Sarah Catherine (Kendall) and Archibald "Archie" Galbraith, in Iona Station, Ontario, Canada, and was raised in Dunwich Township, Ontario.[6] He had three siblings: Alice, Catherine, and Archibald William (Bill). By the time he was a teenager, he had adopted the name Ken, and later disliked being called John.[7] Galbraith grew to be a very tall man, attaining a height of 6 feet 9 inches (206 cm).[8]
His father was a farmer, school teacher, president of a cooperative insurance company, and local official of the Liberal Party. His mother, a homemaker and a community activist, died when he was fourteen years old.[7] The family farm was located on Thomson Line. Both of his parents were supporters of the United Farmers of Ontario in the 1920s.
His early years were spent at a one-room school which is still standing, on 9468 Willey Road, in Iona Station.[9] Later, he went to Dutton High School and St. Thomas High School. In 1931, Galbraith graduated with a Bachelor of Science in Agriculture from the Ontario Agricultural College, which was then an associate agricultural college of the University of Toronto. He majored in animal husbandry. He was awarded a Giannini Scholarship in Agricultural Economics (receiving $60 per month)[7] that allowed him to travel to Berkeley, California, where he received masters and Doctor of Philosophy degrees in agricultural economics from the University of California, Berkeley. Galbraith was taught economics by Professor George Martin Peterson, and together they wrote an economics paper titled "The Concept of Marginal Land" in 1932 that was published in the American Journal of Agricultural Economics.[10]
After graduation in 1934, he started to work as an instructor at Harvard University. Galbraith taught intermittently at Harvard in the period 1934 to 1939.[5] From 1939 to 1940, he taught at Princeton University. In 1937, he became a citizen of the United States and was no longer a British subject.[b] In the same year, he took a year-long fellowship at the University of Cambridge, England, where he was influenced by John Maynard Keynes. He then traveled in Europe for several months in 1938, attending an international economic conference and developing his ideas.[11] He served for a few months in summer 1934 in the U.S. Department of Agriculture.[12] As a Harvard teacher in 1938 he was given charge of a research project for the National Resources Planning Board.[13][14] From 1943 until 1948, he served as an editor of Fortune magazine. In 1949, he was appointed professor of economics at Harvard. He also taught at the Harvard Extension School.[15]