John Kenneth Galbraith, born on October 15, 1908, was one of American’s more influential economists, longtime Harvard professor, and a U.S. ambassador to India, an author, an economist, and “used caustic wit and an iconoclastic temperament to help set the foundation of modern economic thinking” (http://www.csmonitor.com). He, along with another famous economist, and longtime rival, Milton Friedman, believed that everyone has an idea, and that every idea matters, and were masters of the debates and are both very smart people, however, Dr. Galbraith was more to the progressive tradition, and his work was never really accepted, and criticized. Yet through the presidency of John F. Kennedy, he was a trusted adviser, and the author of more than 30 books.
Life through the years
John Kenneth Galbraith was born on October 15, 1908, in Iona station, Ontario, Canada, to Sarah Catherine Kendall a homemaker and a community activist, and Archibald Galbraith a farmer and a teacher, but was raised in Dunwhich Township, Ontario. A lot of his economic achievements, he drew inspiration from his father. His father would take him to political alleys, and in one particular rally, the older Galbraith climbed on manure to address the people. John remembers congratulating his father for “the brilliance of the sally” at which time his father responded “it was good, but it didn't change any votes.” (http://www.washingtonpost.com) At the time, he went to a one room school, and later went to Dutton high school and then to St. Thomas high school, then in 1931, the Ontario Agricultural College in Guelph let Galbraith graduate with a bachelor of science and agricultural degree, which he majored in animal husbandry, and later in 1934, he receives his bachelor degree from the university of California. Dr. Galbraith then spends his time as an instructor at Harvard University in 1934 until 1939 were he eventually became a person who can and is retired and can still keep their title as professor, or an emeritus.
Through 1937 to 1938, he was had postgraduate work at Princeton university, and in the same year, 1937, he became an American citizen and married Catherine Atwater. In 1938, he traveled to Europe for several months, were he developed his ideas of economic standings while attending the international economic conference. In 1930, Galbraith was appointed as the assistant professor of economics at Princeton; while in 1940 to 1941 becoming the economic adviser to the National defense advisory Commissions.
His later economic overview
During World War II, the United States were still feeling the effects of the great depression, and wartime productions, deficits and accommodating monetary policy, and runaway wage prices seemed to be a reality, Dr. Galbraith joined first as an assistant administrator, than later as a department administrator, in charge of price division in the Office of price administration in 1941 through 1943, in hopes to keeping inflation from crippling...