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James K. Galbraith

James K. Galbraith

39 commentaries
1 videos & podcasts

James K. Galbraith, Professor of Government and Chair in Government/Business Relations at the University of Texas at Austin, is a former staff economist for the House Banking Committee and a former executive director of the Joint Economic Committee of Congress. From 1993-97, he served as chief technical adviser for macroeconomic reform to China’s State Planning Commission. He is the co-author (with Jing Chen) of the forthcoming Entropy Economics: The Living Basis of Value and Production (University of Chicago Press).

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  1. Mainstream Economics’ Medieval Inflation Medicine
    galbraith31_Kent Nishimura  Los Angeles Times via Getty Images_fed Kent Nishimura/Los Angeles Times via Getty Images

    Mainstream Economics’ Medieval Inflation Medicine

    Dec 29, 2023 James K. Galbraith shows how prevailing economic thinking is analogous to the theory of the “four humors” in ancient medicine.

  2. Will High Interest Rates Trigger a Debt Disaster?
    galbraith30_Win McNameeGetty Images_powell Win McNamee/Getty Images

    Will High Interest Rates Trigger a Debt Disaster?

    Dec 1, 2023 James K. Galbraith shows that renewed warnings about dangerous debt-to-GDP ratios are belied by history and recent experience.

  3. Why Mainstream Economics Got Inflation Wrong
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    Why Mainstream Economics Got Inflation Wrong

    Nov 15, 2023 James K. Galbraith thinks the misdiagnosis of price growth in 2021-22 speaks to a larger problem with the discipline.

  4. Down on the Biden Economy
    galbraith28_ Chip SomodevillaGetty Images_biden Chip Somodevilla/Getty Images

    Down on the Biden Economy

    Sep 20, 2023 James K. Galbraith thinks the failure of wages to keep up with inflation explains much of the public’s dour mood.

  5. America’s “New” China Narrative
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    America’s “New” China Narrative

    Aug 17, 2023 James K. Galbraith thinks the current US conventional wisdom misses the point and is being driven by ulterior motives.

  1. frankel160_ NIKOLAY DOYCHINOVAFP via Getty Images_EUpollution Nikolay Doychinov/AFP via Getty Images

    Europe’s Carbon Border Tax Advances the Fight Against Climate Change

    Jeffrey Frankel shows how the European Union’s carbon-price mechanism could encourage other countries to follow suit.
  2. moghalu4_Peter TitmusUCGUniversal Images Group via Getty Images_southafricashipping Peter Titmus/UCG/Universal Images Group via Getty Images

    Africa Can’t Prosper Without Regional Trade

    Kingsley Moghalu argues that the continent has been missing a key ingredient of robust, sustained growth.
  3. krueger75_Kent NishimuraGetty Images_israelprotest Kent Nishimura/Getty Images

    Divestment from Israel Will Not Bring Peace

    Anne O. Krueger argues that meeting protesters' demand would weaken US universities – one of America’s sources of strength.
  4. bp - trade war Photo by Costfoto/NurPhoto via Getty Images

    The US-China Trade War Heats Up

    A spate of new US tariffs on Chinese goods has raised the specter of full economic decoupling between the world’s two largest economies. For many observers, the measures are not only misguided, but also counter-productive, with the potential to undermine economic dynamism, hamper climate action, and trigger geopolitical conflict.

  5. op_rajan4_MANJUNATH KIRANAFP via Getty Images_Indiastartup Manjunath Kiran/AFP via Getty Images

    The Indian Election and the Country’s Economic Future

    Raghuram G. Rajan

    Economically, India today feels like a place of limitless possibilities. But with only a narrow window in which to grow rich before it grows old, the policy decisions it makes today will have an outsize influence on its future prospects.

    worries that the country will squander its massive potential by trying to emulate China's growth strategy.
  6. tagliapietra5_JOHN THYSAFP via Getty Images_eu green deal JOHN THYS/AFP via Getty Images

    How Europe Can Get the Green Deal Done

    Simone Tagliapietra proposes EU-level measures that would help offset the negative distributional effects of climate policy.
  7. fischer216_SERGEI BOBYLYOVPOOLAFP via Getty Images_putinxi Sergei Bobylyov/POOL/AFP via Getty Images

    Reckoning With a New Authoritarian Bloc

    Joschka Fischer considers the implications of a northern Asian alliance that exists primarily to challenge American hegemony.
  8. palacio157_ Thierry MonasseGetty Images_eu flags Thierry Monasse/Getty Images

    Is Europe Too Big for Further Enlargement?

    Ana Palacio warns that even if candidates meet accession criteria, decision-making processes would need to be reformed.
  9. subramanian41_PUNIT PARANJPEAFP via Getty Images_india solar panels PUNIT PARANJPE/AFP via Getty Images

    The Sino-American Trade War Benefits China’s Competitors

    Arvind Subramanian warns that escalating protectionism, while dangerous, could end up helping developing countries like India.

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