Galbraith, a brilliant University of Texas economist and an even more brilliant writer, argues in this exceptional book that it is time to "free up the liberal mind" when it comes to economic-policy debates. Instead of managing the mess created by so-called "conservatives" such as Ronald Reagan and George W. Bush, progressives should recognize that the obsession with budget balancing and constraining government that so many Democrats have bought into involves otherwise well-intentioned officials in the fools mission of "not merely parroting conservatives" but that of "parroting dead conservatives." A passionate, principled and fact-driven argument for rejecting the failed policies of deregulation, monetarism and trickle-down economics, this is the call for Keynesianism that Barack Obama should read, embrace and implement.


MOST VALUABLE ECONOMICS BOOK of 2008: James K. Galbraith's The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too
(The Free Press) assessment of The NATION