When Galbraith Frightened Conservatives: Power in Economics, Economists’ Power, and Scientificity

Alexandre Chirat

Journal of Economic Issues, 2018, vol. 52, issue 1, 31-56

Abstract: In this article, I first expound John Kenneth Galbraith’s general theory of power. Galbraith always took into account phenomena of power in economics, and shed light on the power of economists in particular. I then show how the reaction of conservatives to the broadcasting of the Age of Uncertainty highlights the relevance of Galbraith’s theory. Letters exchanged by conservative Lords in an effort to fight against Galbraith’s ideas paradoxically illustrate his theory. This leads to questions about the status of economists, popularizers, and experts. Finally, I argue that convictions have a crucial role in scientific production, and that Robert Solow’s distinction between the “serious scholars” and the proselyte economist is irrelevant because of its incapacity to understand how economists produce knowledge.

Date: 2018
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DOI: 10.1080/00213624.2018.1430940

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