In Memory of John Kenneth Galbraith

Going through the collection of books of a close friend of mine, I came across this book called "The New Industrial State". Not having heard of this man earlier, I did not pay much attention, but the same evening, as I go through his obituaries, I realise the importance of his contributions to the world.

Professor John Kenneth Galbraith, former Ambassador to India, and long time Professor of Economics at Harvard died the day before yesterday (April 29th,2006). Here's a report in the Harvard Crimson about his death, which tells about his life as a Professor at Harvard.

"A prolific author, he wrote more than thirty books, but he will be best remembered for his seminal work, The Affluent Society, published in 1958.

The book challenged the conventional wisdom that free market economics would bring benefits to all. It became a standard text for liberal thinkers, to whom Galbraith was an intellectual icon"

"Many of Professor Galbraith's phrases - "affluent society", "conventional wisdom" and "countervailing power" - have become part of common language."

Shall hopefully write some review on this blog of his books some day.

May his soul rest in peace.