Magazine
Latest Issue

Goodbye Galbraith

JK Galbraith's real skill lay not in economic theorising but in public commentary

By John Kay   June 2006

As a schoolboy, I read The Great Crash, John Kenneth Galbraith’s account of the stock market boom of the 1920s and the bust that followed. It helped to persuade me that business and finance were interesting, even if many of the people who prospered from them were not, or were interesting only for their foolishness. How could so many people have been so stupid for so long, I wondered?

Twenty years later, in 1999, I picked up the book again, and was startled by how the new economy of the 1990s paralleled the new economy of the 1920s—not just in…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect