James Galbraith

Rakesh Bhandari bhandari at phoenix.Princeton.EDU
Tue Jun 29 07:51:55 PDT 1999


By the way, what I find most interesting about James Galbraith's work (his two books, the textbook cowritten with Wm Darity, Jr, the article in the *The Reelvance of Keynesian Economics) is his theorisation of the capital goods industry in terms of its specific mode of quasi monopolistic competition, its rent earning potential (and the statistical methodology required to disclose it), its place in the intl div of labor and its movement in relation to the business cycle. It will be interesting to read Kong-Rae Lee's *The Sources of Capital Goods Innovation: The Role of USer Firms in Japan and Korea* (harwood academic publishers, 1998) in light of Galbraith's research.

I hve not been able to sell many hard core marxists on the importance of his wook for the understanding of capitalist dynamics. I have found it most illuminating. Marxists may be interested to know that Galbraith wrote of the few (only?) reviews of the translation of Preobrazhensky's The Decline of Capitalism, ed. Richard B Day; it was rather favorable. Of course as Jim H has pointed out Preobrazhensky was a disproportionality theorist.

yours, rakesh



More information about the lbo-talk mailing list