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James K. Galbraith

James K. Galbraith

47 commentaries
1 videos & podcasts

James K. Galbraith, Professor of Government and Chair in Government/Business Relations at the University of Texas at Austin, is a former staff economist for the House Banking Committee and a former executive director of the Joint Economic Committee of Congress. From 1993-97, he served as chief technical adviser for macroeconomic reform to China’s State Planning Commission. He is the co-author (with Jing Chen) of Entropy Economics: The Living Basis of Value and Production (University of Chicago Press, 2025).

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  1. Economists’ Way Out of the Wilderness
    galbraith39_rudall30Getty Images_businessmanforest rudall30/Getty Images

    Economists’ Way Out of the Wilderness

    Jan 20, 2025 James K. Galbraith argues that the continued dominance of nineteenth-century thinking has resulted in a catalogue of failure.

  2. The Democrats Committed Suicide This Year
    galbraith38_MandelNganGettyImages_democrats_funeral Mandel Ngan/Getty Images

    The Democrats Committed Suicide This Year

    Nov 13, 2024 James K. Galbraith thinks the party has only itself to blame for losing the 2024 election on low voter turnout.

  3. Elon Musk Gets Trump’s Economic Plans Partly Right
    galbraith37_Anna MoneymakerGetty Images_elonmusktrump Anna Moneymaker/Getty Images

    Elon Musk Gets Trump’s Economic Plans Partly Right

    Nov 1, 2024 James K. Galbraith argues that only a tycoon could love Donald Trump’s proposed tariffs, deportations, and spending cuts.

  4. Inflation Shamanism
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    Inflation Shamanism

    Sep 20, 2024 James K. Galbraith marvels at the Federal Reserve's ability to win praise for positive outcomes it did not cause.

  5. Economic Theory for the Real World
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    Economic Theory for the Real World

    Sep 9, 2024 James K. Galbraith offers a new conceptual framework based on twenty-first-century science and simple observation.

  1. tbunde7_Johannes SimonGetty Images_vance Johannes Simon/Getty Images

    A Westless World

    Tobias Bunde reflects on this year's Munich Security Conference and America's break from the transatlantic alliance.
  2. broning14_Maja HitijGetty Images_merz Maja Hitij/Getty Images

    Germany’s Last-Chance Election

    Michael Bröning

    With German voters clearly demanding comprehensive change, the far right has been capitalizing on the public's discontent and benefiting from broader global political trends. If the country's democratic parties cannot deliver, they may soon find that they are no longer the mainstream.

    explains why the outcome may decide whether the political “firewall” against the far right can hold.
  3. popescu6_ZinchenkoGlobal Images Ukraine via Getty Images)_ukrainepeace Zinchenko/Global Images Ukraine via Getty Images

    The Only Path to Genuine Peace in Ukraine

    Nicu Popescu

    The Russian and (now) American vision of "peace" in Ukraine would be no peace at all. The immediate task for Europe is not only to navigate Donald’s Trump unilateral pursuit of a settlement, but also to ensure that any deal does not increase the likelihood of an even wider war.

    sees a Korea-style armistice with security guarantees as the only viable option in Ukraine.
  4. asakawa3_PoolGettyImages_hindu_kush_glacial_melt Pool/Getty Images

    Meltdown at the Top of the World

    Masatsugu Asakawa urges development banks to act urgently to avert the catastrophic effects of the Himalayas’ thawing glaciers.
  5. frieda19_AnadoluGettyImages_russia_us_peace_talks Anadolu/Getty Images

    The Economic Consequences of Trump’s Ukrainian Peace

    Gene Frieda

    Rather than engage in lengthy discussions to pry concessions from Russia, US President Donald Trump seems committed to giving the Kremlin whatever it wants to end the Ukraine war. But rewarding the aggressor and punishing the victim would amount to setting the stage for the next war.

    warns that by punishing the victim, the US is setting up Europe for another war.
  6. oneill128in McNameeGetty Images_trump Win McNamee/Getty Images

    There Goes America

    Within his first month back in the White House, Donald Trump has upended US foreign policy and launched an all-out assault on the country’s constitutional order. With US institutions bowing or buckling as the administration takes executive power to unprecedented extremes, the establishment of an authoritarian regime cannot be ruled out.

  7. op_janeway18_DrAfter123Getty Images_AI DrAfter123/Getty Images

    In AI We Trust?

    William H. Janeway

    The rapid advance of AI might create the illusion that we have created a form of algorithmic intelligence capable of understanding us as deeply as we understand one another. But these systems will always lack the essential qualities of human intelligence.

    explains why even cutting-edge innovations are not immune to the world’s inherent unpredictability.
  8. strain36_Michael M. SantiagoGettyImages_ny_stock_exchange Michael M. Santiago/Getty Images

    How Trump Can Achieve Sustained Growth

    Michael R. Strain foresees the US president building on a strong economy, so long as he steers clear of populist policies.
  9. schwarzer9_Telmo PintoSOPA ImagesLightRocket via Getty Images_macronstarmer Telmo Pinto/SOPA Images/LightRocket via Getty Images

    Europe Alone

    Daniela Schwarzer explains what the European Union must do now that America has walked away from the transatlantic relationship.

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