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Socratic Economics IX: National Accounts | 70 comments (70 topical, editorial, 0 hidden)
Re: Excellent question. (none / 1)
Well, I read Galbraith's The Great Crash 1929 earlier this year, so maybe The New Industrial State would have lesser overlap than A Short History of Financial Euphoria.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Carrie (migeru at eurotrib dot com) on Tue Jun 3rd, 2008 at 02:55:08 PM EST
[ Parent ]
Re: Excellent question. (4.00 / 2)
The New Industrial State is a tremendous complement to the General Theory, because the General Theory is about those aspects of a monetary production economy for which you can draw a general theory ... rather than, as some people misread it, a "theory about everything in general".

The New Industrial State is a "special theory", about the post WWII corporate-dominated monetary economy of the United States. And being a special theory, it can go further into its particular topic area than a general theory can.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Tue Jun 3rd, 2008 at 03:01:09 PM EST
[ Parent ]

Socratic Economics IX: National Accounts | 70 comments (70 topical, 0 editorial, 0 hidden)
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