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James K. Galbraith

FDL Book Salon Welcomes Bruce Bartlett, The Benefit and The Burden: Tax Reform-Why We Need It and What It Will Take

By: James K. Galbraith Sunday January 29, 2012 1:59 pm

The Benefit and the Burden begins with a short history of American taxation and a description of the core issues in the definition of income. It follows with some discussion of the principal economic arguments that have flowed around the relationship between taxes, growth and fairness, and then proceeds to examine the issues surrounding preferences in our tax code – for housing, for charitable contributions, for capital gains, and the problem of taxing corporate profits. It ends with a discussion of reform proposals, and Bruce makes his case for a VAT to close the revenue gap and fund the government that we will need, among other things, to support an increasingly elderly population.

FDL Book Salon Welcomes Robert D. Auerbach, Deception and Abuse at the Fed: Henry B. Gonzalez Battles Alan Greenspan’s Bank

By: James K. Galbraith Saturday October 24, 2009 2:00 pm

Robert D. Auerbach began his career as a cab driver. A chance ride with Abram Lincoln Harris, a leading professor in the economics department at the University of Chicago — and its only African-American member — catapulted him into graduate school. (When he went in to register, he still had his changer on his belt.) There he became a student of Milton Friedman, completing a dissertation in 1969. Then it was on to the staff of the Kansas City Federal Reserve Bank – the beginning of a lifelong no-love-lost affair with the central bank.

FDL Book Salon Welcomes Bruce Bartlett, The New American Economy: The Failure of Reaganomics and a New Way Forward

By: James K. Galbraith Saturday October 17, 2009 2:00 pm

In January 1981, Bruce Bartlett and I took over direction of the staff of the Joint Economic Committee – he on the Republican and I on the Democratic side. Our situation was unique: a bicameral committee, evenly divided between Democrats and Republicans, no majority either way. This, at the start of the Reagan revolution, which he favored and I opposed.

Funding the IMF: White House Should Honor Left’s Critique, Allow for Conditionality Review

By: James K. Galbraith Thursday June 11, 2009 12:00 pm

So, here we are again. The WaPo editorial is right: until just recently, the IMF was effectively without a mission. Most countries in the world ceased doing business with it after the fiasco of the Asian crisis — it was out of Latin America altogether, and most of Asia. Now it is coming back to life in Eastern Europe, somewhat reformed, somewhat better led, but still with much the same wholesale approach to conditionality. The East European governments are taking the deals, because, shockingly, they are somewhat less stringent than the alternative on offer from the European Union. A sad situation, but one in which it may be better to have the IMF than not to have it.

James K. Galbraith Reponds to Geithner’s Toxic Asset Plan

By: James K. Galbraith Saturday March 21, 2009 8:47 am

I’ve just been reading the NYT report.

The central Treasury assumption, at least for public consumption, seems to be that the underlying mortgage loans will largely pay off, so that if the PPIP buys and holds, at an above-present-market price governed by auction, the government’s loan to finance the purchase will not go bad.

What is to be Done? Next Steps for Economic Recovery

By: James K. Galbraith Monday February 16, 2009 10:30 am

It is difficult to know what the so-called moderate Senators were thinking. Do they have special insight into this crisis? Do they have their own forecasters, with deep understanding and good track records in these matters? Do they have their own models? Do they have, in other words, any ground for believing that less than $800 billion, spread over two years, will be enough to bring the economy back? If so, they weren’t saying so, so far as I could tell.

Due Diligence, Damn It!

By: James K. Galbraith Saturday February 14, 2009 10:00 am

Does the Treasury team really understand, in a way that clearly separates the public interest from that of the bankers, the situation we are in?

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Upcoming FDL Book Salons

Saturday, February 18, 2012
2:00 pm Pacific
None of Us Were Like This Before: American Soldiers and Torture Chat with Joshua E. S. Philips about his new book. Hosted by Jason Leopold.

Sunday, February 19, 2012
2:00 pm Pacific
Pity the Billionaire: The Hard-Times Swindle and the Unlikely Comeback of the Right Chat with Thomas Frank about his new book.
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