galbraith was an economist. he was part the court of camelot with the kennedy administration. he remained, as an advisor to johnson, he is a was a tremendously urbane, witty, gracious, public intellectual. he published often and in the case of the affluent society, he was indicting americans. we are now in 1958. we're moving toward the end of the fifties. we mired in eisenhower stability. we are stealing our wealth as a society we are still sitting on top of the world diplomatically. we still view ourselves as the nation that one, the second world war. we're not we haven't discussed that yet with the russians. and galbraith says around what is it that you are actually and he he makes this he levels this charge he says take typical american family out for a week weekend outing. the family which takes its mauve and saris air conditioned power steering and power braked automobile out for tour passes through cities that are badly paved made hideous by litter blight of buildings, billboards and posts for wires that should long since have been put. they pass on into a countryside th

his chief aspect as economist john kenneth galbraith noted is the absence of real price competition. that is the one thing supposedly useful under practicalth economc theory to prevent private coercion. that pattern had emerged by the late 19th century and his sense. big tech ad markets would bring years of embarrassment to the monoclecl vies the gilded age tycoons are galbraith what if their only handful of firms in the industry it follows that privately exercised economic power is less the exception than the rule. instead of waving competition against coercion political exchange capitalism strengthens the hands of those subjugated bb private power especially in the labor market. thus the new dealers were sold to make it easier for workers to mount with galbraith called countervailing power after decades in which government had hindered them from doing so sometimes through violence. countervailing powers similar to competition only here to counter pressure is exerted not on the sameot side of the market and nt between producers or between employees and so on but on the other side of

the only one still allowed on the beach is michael galbraith. he enjoys watching each take off and landing and even creates many of the passengers himself elected to, to do, you know, on a finger taking off or not. rush is lost in the neighbourhood of losses. any day barnett. i'm heading to the beach too. but for the last time, i'm flying back to that really wasn't unique experience, not only because of the beach landing, but everyone was so nice. it all felt like a big family so that i really got a good impression of the whole island. the and that wraps up today's show, be sure to follow us on social media for more from the world of culture and lifestyle in europe. thanks for joining us. and until next time, it's obviously the same, the, [000:00:00;00] the, [000:00:00;00] the climate versus business, the gulf states a massively expanding very renewable energy, but also increasing the annual production of fossil fuels with an eye on the upcoming world climate summits. we also can petra estates, do climate change global in 15 minutes on the w vib

the only one still allowed on the beach is michael galbraith. he enjoys watching each take off and landing and even creates many of the passengers himself elected to, to serve, you know, on a fee. taking off a rush is lost in the neighbourhood as lost as any day vernon. i'm heading to the beach too. but for the last time, i'm flying back to that really wasn't unique experience, not only because of the beach landing, but everyone was so nice. it all felt like a big family so that i really got a good impression of the whole island. the kind that wraps up today's show, be sure to follow us on social media for more from the world of culture and life style in europe. thanks for joining us. and until next time it's, i'll be the same. the, [000:00:00;00] the, the the do to institute this award recognizes people connected via the interest of 2023 to 10 metals. go to recipients from to believe type hey, in budapest, the sales on d w, the glory days of motor racing. one name stands apart from all the rest solo, from up until 1989 this race track near 10,

the only one still allowed on the beach is michael galbraith. he enjoys watching each take off and landing and even greets many of the passengers himself. connected to it is do you know uh on a fee taken off or not? this flush is flushed in the front me on a board of losses any day barnett. i'm heading to the beach too, but for the last time i'm flying back to that really wasn't unique experience. not only because of the beach landing, but everyone was so nice. it all felt like a big family so that i really got a good impression of the whole island, the and that wraps up today's show, be sure to follow us on social media for more from the world of culture and live style in europe. thanks for joining us and until next time it's obviously the same the, [000:00:00;00] the, [000:00:00;00] the, an ongoing scheme using fake financial portals to steal billiards, 800000000 euros, and damages nationwide charges on the slides. also from the beginning of decline. so when they signed us to the end, everything was perfect. we actually came across as very cre

the only one still allowed on the beach is michael galbraith. he enjoys watching each take off and landing and even greets many of the passengers themselves. collect the 2 it is do you know uh on a fee taken off or not. this flush is flushing the pardon me on the way to go to a board and i'm heading to the beach too, but for the last time i'm flying back to that really wasn't unique experience. not only because of the beach landing, but everyone was so nice. it all felt like a big family so that i really got a good impression of the whole island, the and that wraps up today's show, be sure to follow us on social media for more from the world of culture and lifestyle in europe. thanks for joining us. and until next time, it's obviously the same, the, [000:00:00;00] the, [000:00:00;00] the supreme sensation that is necessary is not a fault. how can we go back to stone age? so anything global solutions for the energy transition. they need to be quick and affordable and impossible combinations their renewables revolution. choosing the joy of the rid

as galbraith explained in this way, private economic is held in check by the counter veiling power of those who are subjugated to it. the first begets the second and justice sometimes requires state action. something even laissez faire types admit. so labor markets promoting countervailing power require requires government backing to offset the asymmetry that is otherwise created by employees going up against a few employers. otherwise, most rationally choose to put up with a bully boss or to suffer precarious hours and low wages. or rather, take the risks associated with action. this was the logic behind the 1935 labor relations national labor relations act, which sought to encourage unionization and collective bargaining, and the 1938 fair labor standards act, which created federal minimum wage and overtime protections. the result? union membership peaked in 1945 at 33%, up from 2.7% at the turn of the 20th century and remained high throughout the 1950s and sixties. under pre-new deal conditions, the asset class went to survive or pitched battles against bosses that sometimes threat

so he's running a, a group called india, but i purchased galbraith product is a project with and they are trying to locate all these other, the edited icons, the date, these are the car images or statues, or a lot of these are, digit images are big, some of the different parts of this country and the name and the a pause, so some phrase to see that not only on the toes and so such images have been smokers from this country. the dog, 60 now cool founder of the nearby project, which is an organization to make the case that history belongs to its geography. so what we do is make the case for artifacts, and heritage looted from india to be brought back to a british, the colonizer say they saved items. the items were safe for centuries before they came, the items are not safe because they broke them down and sold them away. right. so for somebody to say that the item, i mean, why does, why does museum to do it if i would collect of, i knew these items because they stayed safe for centuries and, and they are centuries ordered when a destroyer believes that he's the, he's the safety up when

galbraith was probably the most well-known economist popularly.edman by no means thought that he was a socialist or communist. maybe they hedged a little bit of direction of socialism but his main concern was they didn't recognize the inherent inefficiency of much government activity a continuing lecturer at the university of california santa barbara. he's been there since about 2005 and is the author of a couple of books, milton friedman a biography and chicago economics which we will talk about in a minute. he's helping us understand the impact of milton and rose friedman's free to choose. the (202)748-8902 if you live in east and central time zones, 748-8921 if you live in the mountain and pacific time zones and if you can't get through and still would like to make a comment, try the text number (202)748-8903. that's for text messages only. please include your first name and a city if you would with your questions or comments. also want to let you know that we have a companion website t the series. there are teaeresson plans and a viewer" tab,

it's up out of the junk, galbraith bi lingual. we have my thought when you bit of your thought capacity and it was as you put k, they've been the initial have paying the say they look at the one you how you doing the problem is uh and don't say, how do you spell the holland medical another way to validate ok for that up was the show based upon the fed up with you soon. okay, north own u. e avenue i was on the it was a joiner, i thought, okay. and so say you may have, let me telling me that, you know, i'm helping people not, you know, for the last email in minnesota. yeah, i'm happy got it. i thought the, i'm gonna say what article play. i know they like where to go to seattle and they'll be in, but that was who menu when the last part of the staples here on the way to check whether you have one of those good unless you implement out particularly does anyone know body style. but it is, i mean, this wouldn't limit that, you know, so disagreements, incidental in england been in the field. say he moines at the end in company looking f

when it comes to john kne galbraith or john maynard keynes, he didn't consider them to be merely as negative as a full-fledged socialist or communist system in this sense in the means of economic production. in the case of keynes, friedman's opposition was mostly to the idea that in an advanced capitalist economy there tended to be over saving. the marginal propensity became economically more advanced and therefore you could have an economic equilibrium and less than full production and employment and therefore the government had to borrow excess funds from the private sector engaged in deficit spending in order to maintain full economic activity. ther a vast sources of excess saving. together it doesn't borrow money from the private sector. it's going to have to spend that money so the keynesian economic theory in the activity and in general so he was opposed to that. lbraith was probably the most well-known economist popularly. friedman by no means thought that he was a socialist or communist. maybe they hedged a little bit of direction of socialism but his main concern was they didn't rec

river is running into the potomac river and it was considered a real ornament to have slesinger and galbraith and the gundy brothers and henry kissinger and pat moynihan on the way, having ornaments from academia was considered an elegant thing for an administration. no more. who cares? who wants them? i mean, so this is bad. it's terrible that our institutions of higher education are like that, but it's good that we know it. >> further questions? one back there. go ahead. >> would you comment on one of my favorite milton freedman quotes, the failure of public policies is confusing results with intentions? >> the question was, could you comment on the insight that the failure of public policy is the confusion of results with intentions. >> i had a moment in june of 2021, a rare moment where one of my predictions comes true and that is the inflation was beginning to show up and i wrote a column with the title "milton friedman's revenge", and another, that inflation is never a monetary phenomenon, saying no biden, no yellen, the inflation will not be temporary. i do this not to pat myself on th