,JOHN ,K5NE? ,GALBRAI?1 ,R,I,P 

,PEOPLE 3 

,AU?OR 3 ,IA9 ,MC,KAY 

,TEXT 3 

,APRIL #b#i? SAW ! DEA? ( ECONOMI/ ,JOHN ,K5NE? ,GALBRAI? AT ! GR& OLD AGE ( #i#g4 ,:ILE HIS BOOKS W]E POPUL> 9 ! #a#i#eS & #a#i#fS1 HIS 9FLU5CE & IDEAS GREW \T ( FA%ION 9 ! #a#i#hS ) ! RISE ( NEO-LIB]ALISM4 ,?IS IS UND]/&ABLE1 AS HIS ANALYSIS WAS F> TOO REALI/IC TO BE USABLE BY ! RUL+ ELITE TO JU/IFY !IR P[]1 PR(ITS OR POLICIES4 

,GALBRAI? FIRMLY SAW ! ROLE ?AT ECONOMICS PLAY$ 9 JU/IFY+ CAPITALISM & ELITE RULE4 ,9 ,GALBRAI?'S VISION1 ECONOMIC P[] WAS A FACT :I* C\LD NOT & %\LD NOT BE IGNOR$ & ANY =M ( ECONOMICS :I* DID WAS JU/ APOLOGETICS = 9JU/ICE & 9EQUALITY4 ,AS HE PUT IT1 0! MO/ DAMAG+ FEATURE0 ( MA9/REAM ECONOMICS 0IS ! >RANGEM5T BY :I* P[] 444 IS REMOV$ FROM ! SUBJECT40 ,HE NOT$ ?AT :ILE IT MAY H>D TO IGNORE SU* AN OBVI\S FACT1 ECONOMI/S DO MANAGE IT4 

,HIS ANALYSIS ( ! ECONOMY WAS BAS$ ON ! OBVI\S FACT ( CORPORATEP[]4 ,ONE SECTION ( ! ECONOMY REFLECT$1 TO A DEGREE1 ! VISION ( MANY COMPET+ FIRMS BUT ! O!R1 DOM9ANT1 SECTION DID NOT4 ,H]E WAS CORPORATE P[]1 ) SUB/ANTIAL ECONOMIC & POLITICAL P[] & ECONOMICS1 CONSEQU5TLY1 HAD TO ANALYZE IT 9 A DIFF]5T WAY4 ,SADLY1 MO/ ECONOMI/S DID NOT FOLL[ HIS LEAD4 

,9 RESPONSE TO RIS+ ECONOMIC P[]1 ,GALBRAI? PO9T$ TO ! DEVELOPM5T ( :AT HE T]M$ 0C\NT]VAIL+ P[]40 ,= EXAMPLE1 ! RISE ( CORPORATE P[] SAW ! RISE ( UNION P[] TO PROTECT !IR WORK]S4 ,:ILE AN>*I/S MAY SUGGE/ GETT+ RID ( ECONOMIC P[] TO />T )1 ,GALBRAI?'S />T+ PO9T WAS CORRECT - AN AW>5ESS ( REALITY & ! CURR5T /RUCTURE ( ! ECONOMY4 ,SU* A P]SPECTIVE GOES NOT MAKE Y\ POPUL> 9 ELITE CIRCLES1 UNLIKE ?OSE ECONOMI/S :O JU/IFI$ ! WEAK5+ OR ELIM9ATION ( SU* C\NT]VAIL+ 9/ITUTIONS AS TRADE UNIONS 9 T]MS ( AN ECONOMIC MODEL :I* IGNOR$ CAPITALI/ P[]4 

,NOR W]E HIS IDEAS W]E POPUL> ) MA9/REAM ECONOMI/S FIRMLY W$D$ TO ! MA!MATICAL ILLUSIONS ( NEO-CLASSICAL ECONOMICS4 ,?IS DID NOT SURPRISE ,GALBRAI?1 = AS HE PUT IT ECONOMICS IS DOM9AT$ BY A P]SPECTIVE 9 :I* 0IT IS A F>1 F> BETT] ?+ TO HAVE A FIRM AN*OR 9 NONS5SE ?AN TO PUT \T ON ! TR\BL$ SEA ( ?\<T40 ,HE RI<TLY RECOGNIZ$ MA9/REAM ECONOMICS = ! NONS5SE IT IS1 >GU+ ?AT ITS VISION ( SOCIETY 0IS NOT REAL40 ,RA!R ?AN ANALYZE REALITY1 ECONOMICS EVAD$ IT & ASS]T$ ?AT ! ECONOMY WORK$ 0AS IF0 IT MAT*$ ! UNREAL ASSUMPTIONS ( NEOCLASSICAL ECONOMICS4 ,NO O!R SCI5CE W\LD TAKE SU* AN APPROA* S]I\SLY4 ,9 BIOLOGY1 = EXAMPLE1 ! NOTION ?AT ! WORLD CAN BE ANALYZ$ 0AS IF0 ,GOD CREAT$ IT IS CALL$ ,CREATIONISM & RI<TLY DISMISS$4 ,9 ECONOMICS1 SU* PEOPLE >E G5]ALLY AW>D$ PR(ESSOR%IPS4 

,:ILE AN>*I/S MAY REJECT HIS RE=MI/ /RATEGY & /ATI/ P]SPECTIVE1 HIS CRITIQUE ( CAPITALISM & ECONOMICS IS ?\<T PROVOK+1 REALI/IC & WITTY4 ,LITTLE WOND] HE NEV] GOT ! SO-CALL$ ,NOBEL PRIZE 9 ECONOMICS 7?AT IT WAS AW>D$ TO ?AT *>LATAN ,MILTON ,FRI$MAN SAYS IT ALL74 ,IF ECONOMICS EV] DOES BECOME A SCI5CE1 ,GALBRAI? WILL BE FONDLY REMEMB]$ AS ONE ( ITS KEY TRAIL-BLAZ]S4 ,= ANYONE 9T]E/$ 9 HIS IDEAS1 ,I W\LD RECOMM5D 0,! ,ESS5TIAL ,GALBRAI?0 7,M>9] ,BOOKS1 ,I,S,B,N3 #f#a#h#a#a#i#f#c#i7 AS AN EXCELL5T />T+ PO9T4 

,HIS MO/ FAM\S QUOTE IS1 ,I ?9K1 HIS CONCISE SUMM+ UP ( SUPPLY-SIDE ECONOMICS 7OR NEO-LIB]ALISM AS IT IS CALL$ TODAY71 NAMELY 0?AT ! RI* W]E NOT WORK+ BECAUSE !Y HAD TOO LITTLE MONEY1 ! POOR BECAUSE !Y HAD MU*40 ,IRONICALLY 5\<1 A FEW WEEKS AFT] HIS DEA? CORPORATE CAPITALISM PROV$ HIS WORDS >E /ILL AS APPLICABLE TODAY AS TELECOMMUNICATIONS CORPORATION ,CABLE @& ,WIRELESS HAS TRIGG]$ A R[ ) ! ,COMMUNICATION ,WORK]S ,UNION 7,C,W,U7 BY UNVEIL+ A ,G,B,P#b#bM BONUS S*EME = S5IOR MANAG]S JU/ WEEKS AFT] ANN\NC+ #c1 JOB LOSSES4 

,! BONUS S*EME 7RI<TLY CONDEMN$ AS 0\TRAGE\S0 BY ! ,C,W,U7 COMES JU/ BE=E ! COMPANY IS EXPECT$ TO ANN\NCE FULL-YE> PR(ITS ( AB\T ,G,B,P#b#bM1 A DROP ( ,G,B,P#a#d#hM D[N FROM LA/ YE>4 ,! PLAN IS TO SEE ! TWO DIVISIONAL BOSSES HAVE !IR SAL>IES RAIS$ TO ,G,B,P#f1 & GIVE !M ! *ANCE TO E>N ,G,B,P#b#bM EA* IF C]TA9 T>GETS >E REA*$ AT ! COMPANY4 ,MEAN:ILE ! GR\PS MANAG+ DIRECTOR IS TO RECEIVE A SIMIL> AM\NT & AN ADDITIONAL #aM %>ES 7) NO P]=MANCE CRIT]IA74 

,?AT MU/ BE A NEW DEF9ITION ( P]=MANCE RELAT$ PAY - SEE PR(ITSDROP & GET A PAY 9CREASE6 ,MEAN:ILE1 WORK]S RECEIV$ AN EMAIL E>LI] ?IS YE> W>N+ !M ( JOB LOSSES & TELL+ !M !Y ALL NE$$ TO WORK H>D]4 ,9 O!R WORDS1 WORK H>D] OR BE FIR$4 ,AS SU*1 IT IS H>DLY SURPRIS+ ?AT ! COMPANY ?\<TIT C\LD FOLL[ UP ! JOB LOSSES ) HUGE NEW PAY PACKAGES = DIRECTORS4 ,JOB LOSSES >E A GREAT WAY TO 9CREASE PR(ITS BY MAK+ ! REMA9+ /AFF WORK H>D] = LONG]4 ,!RE IS NO?+ LIKE FE> TO KEEP WAGES D[N & PR(ITS UP4 

,( C\RSE1 IT MAY BE CONSID]$ /RANGE ?AT SU* HI< AM\NTS >E REQUIR$ TO GET ! EXECUTIVES TO DO :AT1 SURELY1 MU/ BE CONSID]$ P>T ( !IR NORMAL JOB BUT ,GALBRAI? W\LD NOT BE SURPRIS$4 ,?AT IS :Y HE IS /ILL WOR? READ+ TODAY1 9 SPITE ( HIS FLAWS4 

,FROM 3 ,!,AN>*I/,LIBR>Y4ORG4 

,*RONOLOGY 3 
,FEBRU>Y #b1 #bba 3 ,JOHN ,K5NE? ,GALBRAI?1 ,R,I,P -- ,ADD$4 
,JANU>Y #g1 #bbb 3 ,JOHN ,K5NE? ,GALBRAI?1 ,R,I,P -- ,UPDAT$4 

 FILE G5]AT$ FROM 3  
HTTP3_/_/REVOLTLIB4COM_/