just finished @delong "Slouching". It's an interesting book and particularly illuminating on the Carter/Reagan era. The Carter teams elevation of Paul Volker without even an interview and certainly no idea of what they wanted is appalling. Their economic ineptitude is even more galling when one realizes that #Galbraith was still alive and well and they apparently never even spoke to him. Gailbraith's analysis of inflation is still pertinent and useful. #slouchingtowardutopia

In other words, the Venture Predator constructs a pile of shit so large and impressive that investors are convinced that there must be a pony under there somewhere.

There's another name for this kind of arrangement: a #Bezzle, which #Galbraith described as "the magic interval when a confidence trickster knows he has the money he has appropriated but the victim does not yet understand that he has lost it."

15/

politics is not the art of the possible. It consists in choosing between the disastrous and the unpalatable - John Kenneth #Galbraith
#Quotes

[#Entretien] John Kenneth Galbraith, une pensée toujours neuve

Dans un texte très fouillé, l’historien de l’#économie Alexandre Chirat revient sur la pensée d’un des économistes les plus importants de l’après-guerre, John Kenneth #Galbraith. Une pensée qui fait écho à de nombreux débats contemporains.

https://www.mediapart.fr/journal/economie/050722/john-kenneth-galbraith-une-pensee-toujours-neuve

[#Entretien] John Kenneth Galbraith, une pensée toujours neuve

Dans un texte très fouillé, l’historien de l’#économie Alexandre Chirat revient sur la pensée d’un des économistes les plus importants de l’après-guerre, John Kenneth #Galbraith. Une pensée qui fait écho à de nombreux débats contemporains.

https://www.mediapart.fr/journal/economie/050722/john-kenneth-galbraith-une-pensee-toujours-neuve

Crypto-sceptic Molly White could be the new JK Galbraith… just much tougher | John Naughton | The Guardian #crypto-sceptic #molly #white #could #galbraith… #just #much #tougher #john #naughton #guardian #2luglio https://parliamodi.news/article/aHR0cHM6Ly93d3cudGhlZ3VhcmRpYW4uY29tL2NvbW1lbnRpc2ZyZWUvMjAyMi9qdWwvMDIvY3J5cHRvLXNjZXB0aWMtbW9sbHktd2hpdGUtY291bGQtYmUtdGhlLW5ldy1qay1nYWxicmFpdGgtanVzdC1tdWNoLXRvdWdoZXI=