
CAMBRIDGE, Mass., May 1 (UPI) -- John Kenneth Galbraith, a noted U.S. economist who introduced price controls as a part of Franklin Roosevelt's administration, has died.
Galbraith, who was 97, died of natural causes Saturday at Mount Auburn Hospital in Cambridge, Mass., his family said.
Over the years he became a fixture among U.S. political and social elites, a liberal Democratic policy adviser and a persuasive advocate of the views of British economist John Maynard Keynes.
Galbraith was born Oct. 15, 1908, in Iona Station, Ontario, the son of a farmer and teacher. He earned a bachelor's degree at the University of Toronto in 1931 and a doctorate at the University of California in 1934, the year he began teaching at Harvard University.
He became a U.S. citizen in 1937 and that year married Catherine Atwater. They had four sons, Alan, Peter, James and Douglas, and owned several homes in New England.
During World War II, Galbraith was deputy administrator in the Office of Price Administration where he defended permanent price controls.
He also was president of Americans for Democratic Action and campaigned for Eugene McCarthy. Galbraith once told Harvard students: "If you can't comfort the afflicted, then afflict the comfortable."
|
|
|
|
|
|
| Additional Business News Stories | |
WASHINGTON, May 23 (UPI) --
The planned Keystone XL oil pipeline would move oil away from refineries that produce gasoline, increasing prices, the National Resource Defense Council says.
|
MELBOURNE, Fla., May 23 (UPI) --
Northrop Grumman says its Military Airworthiness Certification is closer for its re-engined EC-8 Joint Surveillance Target Attack Radar System aircraft.
|
The housing inventory rose slightly in April, which is unusual in the middle of the spring sales season. The uptick may be the result of rising seller confidence and it should ease concerns that the super tight inventory levels of the last six months...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption