Famed economist John Kenneth Galbraith dies

After his retirement from Harvard in 1975, Galbraith gained fresh recognition as host of the British-made television series, “The Age of Uncertainty.” His book under the same title was a best seller, as was “Almost Everyone’s Guide to Economics.”

Among his other books were “The Great Crash,” 1955, and “The Culture of Contentment,” 1992. He returned to the theme of the crash of 1929 in a January 1987 Atlantic Monthly article that correctly predicted that year’s market plunge by citing the parallels of the two eras.

In 1988, he and Soviet economist Stanislav Menshikov wrote “Capitalism, Communism and Coexistence: From the Bitter Past to a Better Prospect.” The book is a compilation of discussions conducted at Galbraith’s summer home in Townsend, Vt., about socialism and capitalism. His 1996 book, “The Good Society,” outlined his blueprint for enriching America economically and socially, while his 1999 book, “Name-Dropping: From FDR On,” was a lighthearted look at his encounters with everyone from Eleanor Roosevelt onward.

“It is not usual for a man past his 90th birthday to write a book that is as fresh and lively as the work of a 30-year-old. But John Kenneth Galbraith is not a usual man, and he has done it,” The New York Times wrote about “Name-Dropping.”

At home in the world
Globe-trotting was a favorite activity of Galbraith, who spent time touring India during his tenure as ambassador. He wrote a factual account of his India years as well as a novel, “The Triumph,” concerning what he called “an uncontrollably funny institution,” the U.S. State Department.

From Cambridge to Tokyo, the 6-foot, 7-inch Galbraith was an avid reciter of dry limericks and pungent, outrageous humor, often at the expense of American society.

Noting that by the law of aerodynamics, the bumblebee in principle cannot fly, Galbraith once remarked, “If all this be true, life among bumblebees must bear a remarkable resemblance to life in the United States.”

He was an ardent worker, often hibernating for several months at his summer home in the Vermont mountains to do nothing but write. His secretary in his Harvard office would warn those trying to contact him — “on penalty of death” — to call him only between noon and 1 p.m., when he took his lunch break.

Galbraith was born Oct. 15, 1908, in Iona Station, Ontario, Canada.

After graduating from the University of Toronto in 1931, Galbraith moved to the United States where he earned his Ph.D. in economics from the University of California. He taught at Harvard from 1934 to 1939 and at Princeton University from 1939 to 1942, then worked in the federal Office of Price Administration during the war years.

Galbraith returned to Harvard in 1948, remaining active on the faculty until his retirement.

He was the recipient of the Medal of Freedom, awarded by Truman in 1946, and another one from President Clinton in 2000. The professor also served as president for a term of the American Economic Association.

Galbraith was married in 1937 to Catherine Atwater. They had three sons, Alan, Peter and James.

MORE FROM LIFE

Life Section Front

N.Y. lawmakers reject gay marriage bill Amid recession, meth menace evolves NYC tree lighting ushers in holiday season A new field of inquiry: Salahis' polo cup FDIC: Minorities struggle to access banks Bleak job scene poses challenge for Obama Life Section Front   Add Life headlines to your news reader: