My Two Cents

John Kenneth Galbraith

Chris Farrell Jan 16, 2008

I found this something of a chilling summary. The legendary investor Dean LeBaron notes on his website that John Kenneth Galbraith’s classic account of the Great Depression lists five major weaknesses of the U.S. economy in 1929: an unequal distribution of income; bad corporate governance; a weak banking structure; a ‘dubious’ balance of trade position; and bad economic advice.

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