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James K. Galbraith

Lloyd M. Bentsen Jr. Chair in Government and Business Relations, University of Texas at Austin

Involvement

Leader of The Measurement and Assessment of Inequalities on a World Scale

James K. Galbraith holds the Lloyd M. Bentsen Jr. Chair in Government/Business Relations at the Lyndon B. Johnson School of Public Affairs and a professorship in Government at The University of Texas at Austin.

Galbraith holds degrees from Harvard University (BA) and in economics from Yale University (MA, M.Phil, PhD). He was Executive Director of the Joint Economic Committee of the United States Congress in the early 1980s. He chaired the board of Economists for Peace and Security from 1996 to 2016 (www.epsusa.org) and directs the University of Texas Inequality Project (http://utip.lbj.utexas.edu). He is a managing editor of Structural Change and Economic Dynamics.

In 2010, he was elected to the Accademia Nazionale dei Lincei. In 2014 he was co-winner with Angus Deaton of the Leontief Prize for Advancing the Frontiers of Economics. In 2020 he received the Veblen-Commons Award of the Association for Evolutionary Economics.

By this expert

Kapital for the Twenty-First Century?

Article By James K. Galbraith | Mar 30, 2014

What is “capital”? To Karl Marx, it was a social, political, and legal category—the means of control of the means of production by the dominant class. Capital could be money, it could be machines; it could be fixed and it could be variable. But the essence of capital was neither physical nor financial. It was the power that capital gave to capitalists, namely the authority to make decisions and to extract surplus from the worker.

Inequality and Economic and Political Change: A Comparative Perspective

Paper Conference paper | By James K. Galbraith | Apr 2010

This paper describes the broad evolution of inequality in the world economy over the past four decades, and provides a summary account of the relationship between inequality, economic development, political regimes and the functional distribution of income.