157-480: The New Industrial State is a 1967 book by John Kenneth Galbraith . Three revised editions appeared in 1972, 1978 and 1985. In it, Galbraith asserts that within the industrial sectors of modern capitalist societies, the traditional mechanism of supply and demand is supplanted by the planning of large corporations, using techniques such as advertising and, where necessary, vertical integration . The book followed Galbraith's 1966 series of BBC Reith Lectures –
314-670: A Bachelor of Science in Agriculture from the Ontario Agricultural College , which was then an associate agricultural college of the University of Toronto . He majored in animal husbandry. He was awarded a Giannini Scholarship in Agricultural Economics (receiving $ 60 per month) that allowed him to travel to Berkeley, California, where he received masters and Doctor of Philosophy degrees in agricultural economics from
471-806: A prohibitionist with a famous name. Roosevelt, then 38, resigned as Assistant Secretary after the Democratic convention and campaigned across the nation for the party ticket. During the campaign, Cox and Roosevelt defended the Wilson administration and the League of Nations , both of which were unpopular in 1920. Roosevelt personally supported U.S. membership in the League, but, unlike Wilson, he favored compromising with Senator Henry Cabot Lodge and other "Reservationists". Republicans Warren G. Harding and Calvin Coolidge defeated
628-421: A satirical novel, The Triumph (1968). The postwar period also was memorable for Galbraith because of his work, along with Eleanor Roosevelt and Hubert Humphrey , to establish a progressive policy organization Americans for Democratic Action (ADA) in support of the cause of economic and social justice in 1947. In 1952, Galbraith's friends Arthur M. Schlesinger Jr. and George Ball recruited him to work as
785-402: A Republican, but Roosevelt decided to seek the 1920 vice presidential nomination. After Governor James M. Cox of Ohio won the party's presidential nomination at the 1920 Democratic National Convention , he chose Roosevelt as his running mate, and the convention nominated him by acclamation . Although his nomination surprised most people, he balanced the ticket as a moderate, a Wilsonian, and
942-459: A campaign team led by Howe and Farley, and a " brain trust " of policy advisers, primarily composed of Columbia University and Harvard University professors. Some were not so sanguine about his chances, such as Walter Lippmann , the dean of political commentators, who observed: "He is a pleasant man who, without any important qualifications for the office, would very much like to be president." However, Roosevelt's efforts as governor to address
1099-464: A car. Due to his aggressive campaign, his name gained recognition in the Hudson Valley, and in the Democratic landslide in the 1910 United States elections , Roosevelt won a surprising victory. Despite short legislative sessions, Roosevelt treated his new position as a full-time career. Taking his seat on January 1, 1911, Roosevelt soon became the leader of a group of "Insurgents" in opposition to
1256-709: A confidant of Prime Minister Jawaharlal Nehru and extensively advised the Indian government on economic matters. Kennedy considered India to be important not just in its own right, but also because an Indian diplomat always served as the chief commissioner of the International Control Commission (ICC). Thus, Galbraith came to be involved in American policy towards Southeast Asia from his perch as an ambassador in New Delhi. In 1961, when Kennedy considered intervening in
1413-466: A court of appeals, as a depository of information, and as a tool of co-ordination; by ignoring or bypassing collective decision-making agencies, such as the Cabinet...and always by persuading, flattering, juggling, improvising, reshuffling, harmonizing, conciliating, manipulating. When Roosevelt was inaugurated on March 4, 1933, the U.S. was at the nadir of the worst depression in its history . A quarter of
1570-600: A critic of the increasing American involvement in Vietnam. In November 1961, he visited South Vietnam where he presented an unflattering picture of the regime of President Ngo Dinh Diem , saying "we are now married to failure". He advised finding a new South Vietnamese leader, saying "nothing succeeds like successors". In May 1962, Galbraith cabled Kennedy, stating that according to the most recent statements made by Secretary of Defense Robert McNamara , Diem had about 170,000 men under arms at present, while claiming that his country
1727-524: A descending pattern of recovery. Roosevelt was left permanently paralyzed from the waist down and was diagnosed with polio . A 2003 study strongly favored a diagnosis of Guillain–Barré syndrome , but historians have continued to describe his paralysis according to the initial diagnosis. Though his mother favored his retirement from public life, Roosevelt, his wife, and Roosevelt's close friend and adviser, Louis Howe, were all determined that he continue his political career. He convinced many people that he
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#17328551111031884-420: A distant second place. Roosevelt then promised the vice-presidential nomination to Garner, who controlled the votes of Texas and California; Garner threw his support behind Roosevelt after the third ballot, and Roosevelt clinched the nomination on the fourth ballot. Roosevelt flew in from New York to Chicago after learning that he had won the nomination, becoming the first major-party presidential nominee to accept
2041-424: A dominant figure in American media as publisher of Time and Fortune magazines. Galbraith worked for Luce for five years and expounded Keynesianism to the American business leadership. Luce allegedly said to President Kennedy, "I taught Galbraith how to write—and have regretted it ever since." Galbraith saw his role as educating the entire nation on how the economy worked, including the role of big corporations. He
2198-591: A few months in summer 1934 in the U.S. Department of Agriculture. As a Harvard teacher in 1938 he was given charge of a research project for the National Resources Planning Board. From 1943 until 1948, he served as an editor of Fortune magazine. In 1949, he was appointed professor of economics at Harvard. He also taught at the Harvard Extension School . The United States went into WWII with an economy still not fully recovered from
2355-640: A four-day national "bank holiday", to end the run by depositors seeking to withdraw funds. He called for a special session of Congress on March 9, when Congress passed, almost sight unseen, the Emergency Banking Act . The act, first developed by the Hoover administration and Wall Street bankers, gave the president the power to determine the opening and closing of banks and authorized the Federal Reserve Banks to issue banknotes. The " first 100 Days " of
2512-697: A fourth year, taking graduate courses. Like his cousin Theodore, he was a member of The Explorers Club . Roosevelt entered Columbia Law School in 1904, but dropped out in 1907 after passing the New York bar examination . In 1908, he took a job with the prestigious law firm of Carter Ledyard & Milburn , working in the firm's admiralty law division. During his second year of college, Roosevelt met and proposed to Boston heiress Alice Sohier, who turned him down. Franklin then began courting his childhood acquaintance and fifth cousin once removed, Eleanor Roosevelt ,
2669-496: A fraction of the campaign money that Johnson had. Though Johnson won the primary, the very narrow margin of his victory was widely considered to be a defeat. On the night of the primary, Galbraith celebrated the result at McCarthy campaign headquarters as if it were an outright victory. The day after the New Hampshire primary, Galbraith was widely cheered by his students when he entered his lecture hall at Harvard. The results of
2826-494: A great deal and incorporated some of his 1924 ideas into the design for the United Nations in 1944–1945. Smith, the Democratic presidential nominee in the 1928 presidential election , asked Roosevelt to run for governor of New York in the 1928 state election . Roosevelt initially resisted, as he was reluctant to leave Warm Springs and feared a Republican landslide. Party leaders eventually convinced him only he could defeat
2983-572: A house built for herself alongside that townhouse. Eleanor never felt at home in the houses at Hyde Park or New York; however, she loved the family's vacation home on Campobello Island , which was also a gift from Sara. Burns indicates that young Franklin Roosevelt was self-assured and at ease in the upper class. On the other hand, Eleanor was shy and disliked social life. Initially, Eleanor stayed home to raise their children. As his father had done, Franklin left childcare to his wife, and Eleanor delegated
3140-644: A leave of absence from his magazine work for a senior position in the State Department as director of the Office of Economic Security Policy where he was nominally in charge of economic affairs regarding Germany, Japan, Austria, and South Korea. Distrusted by senior diplomats, he was relegated to routine work, with few opportunities to make policy. Galbraith favored détente with the Soviet Union, along with Secretary of State James F. Byrnes and General Lucius D. Clay ,
3297-623: A military governor of the US Zone in Germany from 1947 to 1949, but they were out of step with the containment policy then being developed by George Kennan and favored by the majority of the US major policymakers. After a disconcerting half-year, Galbraith resigned in September 1946 and went back to his magazine writing on economics issues. Later, he immortalized his frustration with "the ways of Foggy Bottom " in
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#17328551111033454-473: A niece of Theodore Roosevelt. In 1903, Franklin proposed to Eleanor. Despite resistance from his mother, Franklin and Eleanor Roosevelt were married on March 17, 1905. Eleanor's father, Elliott , was deceased; Theodore, who was then president, gave away the bride. The young couple moved into Springwood . Franklin's mother, Sara Roosevelt, also provided a townhouse for the newlyweds in New York City, and had
3611-587: A number of novels. Among his novels, A Tenured Professor achieved particular critical acclaim. Galbraith wrote book reviews, e.g., of The Report from Iron Mountain on the Possibility and Desirability of Peace , a 1967 political satire, under the pen name of Herschel McLandress , a name of a fictional Scottish mentor featured in the Tenured Professor . He also used the pseudonym, Mark Épernay, when he published The McLandress Dimension in 1963. Galbraith
3768-447: A political figure. Roosevelt and Smith came from different backgrounds and never fully trusted one another, but Roosevelt supported Smith's progressive policies, while Smith was happy to have Roosevelt's backing. Roosevelt gave presidential nominating speeches for Smith at the 1924 and 1928 Democratic National Conventions; the speech at the 1924 convention marked a return to public life following his illness and convalescence. That year,
3925-450: A seat in the state senate. The senate district, located in Dutchess , Columbia , and Putnam , was strongly Republican. Roosevelt feared that opposition from Theodore could end his campaign, but Theodore encouraged his candidacy despite their party differences. Acting as his own campaign manager, Roosevelt traveled throughout the senate district via automobile at a time when few could afford
4082-694: A seminar for the delegates to the Palau Constitutional Convention. He became the first person to earn honorary citizenship of Palau. In 1984, he visited the USSR, writing that the Soviet economy had made "great material progress" as, "in contrast to Western industrial economy," the USSR "makes full use of its manpower." In 1985, the American Humanist Association named him the Humanist of
4239-524: A separate home in Hyde Park at Val-Kill and devoted herself to social and political causes independent of her husband. The emotional break in their marriage was so severe that when Franklin asked Eleanor in 1942—in light of his failing health—to come live with him again, she refused. Roosevelt was not always aware of Eleanor's visits to the White House. For some time, Eleanor could not easily reach Roosevelt on
4396-536: A series of six radio broadcasts, also titled The New Industrial State – in which he explored the economics of production and the effect large corporations could have over the state. Galbraith argues that this is made necessary by the long-term planning required for production processes involving advanced technology (and that these same technological challenges were answered with similar types of planning in Soviet societies) which involve substantial additional risk . One of
4553-572: A significant degree, given that Galbraith had the ear of President Kennedy ) to the " war on poverty ", the government spending policy introduced by the administrations of Kennedy and Johnson. Franklin D. Roosevelt Franklin Delano Roosevelt (January 30, 1882 – April 12, 1945), also known as FDR , was the 32nd president of the United States , serving from 1933 until his death in 1945. The longest-serving U.S. president, he
4710-666: A speechwriter for the Democratic candidate, Adlai Stevenson . The involvement of several intellectuals from the ADA in the Stevenson campaign attracted controversy as the Republican Senator Joseph McCarthy accused the ADA intellectuals as being "tainted" by "well documented Red associations"; Galbraith later said one of his regrets was that McCarthy failed to condemn him as one of Stevenson's "red" advisers. During his time as an adviser to President John F. Kennedy , Galbraith
4867-802: A staff of physical therapists and using most of his inheritance to purchase the Merriweather Inn. In 1938, he founded the National Foundation for Infantile Paralysis , leading to the development of polio vaccines. Roosevelt remained active in New York politics while also establishing contacts in the South, particularly in Georgia, in the 1920s. He issued an open letter endorsing Al Smith 's successful campaign in New York's 1922 gubernatorial election, which both aided Smith and showed Roosevelt's continuing relevance as
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5024-602: A stone inukshuk overlooking the Galbraith family farm on the Thompson (Hogg) Line just east of Willey Road, just north of the one room school he attended. The family home—a large white farm house—still stands, as do many of the original farm buildings. Even before becoming a president of the American Economic Association, Galbraith was considered as an iconoclast by many economists. This is partly because he rejected
5181-411: A strange wish for you. It is that you may never be President of the United States." Franklin's mother, the dominant influence in his early years, once declared, "My son Franklin is a Delano, not a Roosevelt at all." James, who was 54 when Franklin was born, was considered by some as a remote father, though biographer James MacGregor Burns indicates James interacted with his son more than was typical at
5338-578: A strong influence throughout Roosevelt's life, officiating at his wedding and visiting him as president. Like most of his Groton classmates, Roosevelt went to Harvard College . He was a member of the Alpha Delta Phi fraternity and the Fly Club , and served as a school cheerleader. Roosevelt was relatively undistinguished as a student or athlete, but he became editor-in-chief of The Harvard Crimson daily newspaper, which required ambition, energy, and
5495-544: A tour of the battlefield at Verdun . In September, on the ship voyage back to the United States, he contracted pandemic influenza with complicating pneumonia, which left him unable to work for a month. After Germany signed an armistice in November 1918, Daniels and Roosevelt supervised the demobilization of the Navy. Against the advice of older officers such as Admiral William Benson —who claimed he could not "conceive of any use
5652-694: A valuable political player. After the election, Roosevelt returned to New York City, where he practiced law and served as a vice president of the Fidelity and Deposit Company . Roosevelt sought to build support for a political comeback in the 1922 elections , but his career was derailed by an illness. It began while the Roosevelts were vacationing at Campobello Island in August 1921. His main symptoms were fever; symmetric, ascending paralysis; facial paralysis; bowel and bladder dysfunction; numbness and hyperesthesia ; and
5809-490: Is a real possibility that a romantic relationship existed" between his father and Crown Princess Märtha of Norway , who resided in the White House during part of World War II. Aides referred to her at the time as "the president's girlfriend", and gossip linking the two romantically appeared in newspapers. Roosevelt cared little for the practice of law and told friends he planned to enter politics. Despite his admiration for cousin Theodore, Franklin shared his father's bond with
5966-955: Is my best book", an assertion Galbraith delivered "a little mischievously." After the beginning of the Great Recession of 2008 , Galbraith's The Great Crash, 1929 (1955) and other books containing warnings about the dangers of an unrestrained speculative mood without proper government oversight found an attentive readership again. In 2010, the Library of America published a new edition of Galbraith's major works, edited by his son, James K. Galbraith : The Affluent Society & Other Writings, 1952–1967 : American Capitalism , The Great Crash, 1929 , The Affluent Society , and The New Industrial State . On this occasion, Bill Moyers interviewed James K. Galbraith about his father, his works, and his legacy. In American Capitalism: The Concept of Countervailing Power , published in 1952, Galbraith concluded that
6123-579: Is the only president to have served more than two terms. His initial two terms were centered on combating the Great Depression , while his third and fourth saw him shift his focus to America's involvement in World War II . A member of the prominent Delano and Roosevelt families, Roosevelt was elected to the New York State Senate from 1911 to 1913 and was then the assistant Secretary of
6280-470: The 73rd United States Congress saw an unprecedented amount of legislation and set a benchmark against which future presidents have been compared. When the banks reopened on Monday, March 15, stock prices rose by 15 percent and in the following weeks over $ 1 billion was returned to bank vaults, ending the bank panic. On March 22, Roosevelt signed the Cullen–Harrison Act , which brought Prohibition to
6437-484: The American Economic Association . The Journal of Post Keynesian Economics benefited from Galbraith's support and he served as the chairman of its board from its beginning. During the shooting of The World at War , a British television documentary series (1973–74), Galbraith described his experiences in the Roosevelt war administration. Among other things, he spoke about the initial confusion during
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6594-521: The Aspinwalls and the Delanos , respectively—and resided at Springwood , a large estate south of Hyde Park's historic center. Roosevelt's father, James, graduated from Harvard Law School but chose not to practice law after receiving an inheritance from his grandfather . James, a prominent Bourbon Democrat , once took Franklin to meet President Grover Cleveland , who said to him: "My little man, I am making
6751-520: The Bonus Army further damaged the incumbent's popularity, as newspapers across the country criticized the use of force to disperse assembled veterans. Roosevelt won 57% of the popular vote and carried all but six states. Historians and political scientists consider the 1932–36 elections to be a political realignment . Roosevelt's victory was enabled by the creation of the New Deal coalition , small farmers,
6908-612: The Democratic Party , and in preparation for the 1910 elections , the party recruited Roosevelt to run for a seat in the New York State Assembly . Roosevelt was a compelling recruit: he had the personality and energy for campaigning and the money to pay for his own campaign. But Roosevelt's campaign for the state assembly ended after the Democratic incumbent, Lewis Stuyvesant Chanler , chose to seek re-election. Rather than putting his political hopes on hold, Roosevelt ran for
7065-541: The Fifth Party System . He created numerous programs to provide relief to the unemployed and farmers while seeking economic recovery with the National Recovery Administration and other programs. He also instituted major regulatory reforms related to finance, communications, and labor, and presided over the end of Prohibition . In 1936, Roosevelt won a landslide reelection . He was unable to expand
7222-461: The Great Depression . Because wartime production needs mandated large budget deficits and an accommodating monetary policy, inflation and a runaway wage-price spiral were seen as likely. As a part of a team charged with keeping inflation from damaging the war effort, Galbraith served as a deputy administrator of the Office of Price Administration (OPA) during World War II in 1941–1943. The OPA directed
7379-788: The Indian Institute of Technology in Kanpur , Uttar Pradesh . (Even after leaving office, Galbraith remained a friend and supporter of India.) Because of his recommendation, First Lady of the United States Jacqueline Bouvier Kennedy undertook her 1962 diplomatic missions in India and Pakistan . After leaving the American embassy in India, Galbraith continued to advise Johnson, now president, against escalating American involvement in Vietnam. In 1965, he advised Johnson that he should "instruct officials and spokesmen to stop saying
7536-722: The Kennedy administration . His political activism, literary output and outspokenness brought him wide fame during his lifetime. Galbraith was one of the few to receive both the World War II Medal of Freedom (1946) and the Presidential Medal of Freedom (2000) for his public service and contributions to science. Galbraith was born on October 15, 1908, to Canadians of Scottish descent, Sarah Catherine (Kendall) and Archibald "Archie" Galbraith, in Iona Station, Ontario , Canada, and
7693-620: The Liberal Party . His mother, a homemaker and a community activist, died when he was fourteen years old. The family farm was located on Thomson Line. Both of his parents were supporters of the United Farmers of Ontario in the 1920s. His early years were spent at a one-room school which is still standing, on 9468 Willey Road, in Iona Station. Later, he went to Dutton High School and St. Thomas High School. In 1931, Galbraith graduated with
7850-489: The Navy , was well-read on the subject, and was an ardent supporter of a large, efficient force. With Wilson's support, Daniels and Roosevelt instituted a merit-based promotion system and extended civilian control over the autonomous departments of the Navy. Roosevelt oversaw the Navy's civilian employees and earned the respect of union leaders for his fairness in resolving disputes. No strikes occurred during his seven-plus years in
8007-481: The Tammany Hall machine that dominated the state Democratic Party. In the 1911 U.S. Senate election , which was determined in a joint session of the New York state legislature, Roosevelt and nineteen other Democrats caused a prolonged deadlock by opposing a series of Tammany-backed candidates. Tammany threw its backing behind James A. O'Gorman , a highly regarded judge whom Roosevelt found acceptable, and O'Gorman won
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#17328551111038164-519: The United States Navy Reserve and the Council of National Defense . In April 1917, after Germany declared it would engage in unrestricted submarine warfare and attacked several U.S. ships, Congress approved Wilson's call for a declaration of war on Germany . Roosevelt requested that he be allowed to serve as a naval officer, but Wilson insisted that he continue as Assistant Secretary. For
8321-515: The University of California, Berkeley . Galbraith was taught economics by Professor George Martin Peterson, and together they wrote an economics paper titled "The Concept of Marginal Land" in 1932 that was published in the American Journal of Agricultural Economics . After graduation in 1934, he started to work as an instructor at Harvard University . Galbraith taught intermittently at Harvard in
8478-647: The official implementation of term limits . Following the Japanese attack on Pearl Harbor on December 7, 1941, Roosevelt obtained a declaration of war on Japan. After Germany and Italy declared war on the U.S. on December 11, 1941, the United States Congress approved additional declarations of war in return. He worked closely with other national leaders in leading the Allies against the Axis powers . Roosevelt supervised
8635-588: The "Maneli affair", named after Mieczysław Maneli , the Polish Commissioner to the ICC who, together with Ramchundur Goburdhun , the Indian Commissioner on the ICC, approached leaders in both North and South Vietnam with a proposal to make both Vietnams neutral in the Cold War. On April 1, 1963, Galbraith flew to Washington to discuss the peace proposal with Kennedy, where the president told him "to be prepared to seize upon any favorable moment to reduce our commitment [in Vietnam]", though it "might yet be some time away." In September 1963, Maneli met with Ngô Đình Nhu ,
8792-430: The $ 100,000 American Peace Award for the best plan to deliver world peace. Roosevelt had leisure time and interest, and he drafted a plan for the contest. He never submitted it because Eleanor was selected as a judge for the prize. His plan called for a new world organization that would replace the League of Nations. Although Roosevelt had been the vice-presidential candidate on the Democratic ticket of 1920 that supported
8949-402: The American economy was managed by a triumvirate of big business, big labor, and an activist government. Galbraith defined the actions of the industry lobby groups and unions as countervailing power . He contrasted this arrangement with the period prior to the previous Depression, when big business had relatively free rein over the economy. His 1955 bestseller The Great Crash, 1929 describes
9106-551: The American people, leading Galbraith to sarcastically ask why Diem needed more American support. He concluded his cable to Kennedy: "Incidentally, who is the man in your administration who decides what countries are strategic? I would like to have his name and address and ask him what is so important about this real estate in the Space Age". In January 1963, when Polish Foreign Minister Adam Rapacki visited New Delhi, Galbraith met with him to declare to him his "despair" about Kennedy's Vietnam policies and to ask that Poland, as one of
9263-415: The Chicago police searched Galbraith's room at the Hilton hotel, alleging that he was hiding anti-war protesters. None were found. After Vice President Hubert Humphrey won the Democratic nomination, Galbraith reluctantly endorsed Humphrey as preferable to the Republican candidate, Richard Nixon. In autumn 1972, Galbraith was an adviser and assistant to Nixon's rival candidate, Senator George McGovern , in
9420-545: The Chinese foreign minister, Chen Yi , was willing to meet him in private. However, Rusk forbade Harriman to talk to Chen under any circumstances, fearful of Republican attacks against the Democrat Kennedy if the meetings should come out to the media, causing Harriman to explode in rage that during World War II, Roosevelt had allowed him to meet whoever was necessary. Unable to change Rusk's mind, Harriman appealed to Galbraith, who in his turn appealed to Kennedy. Kennedy granted permission for Harriman to meet Chen, provided that it
9577-426: The Cox–Roosevelt ticket in the presidential election by a wide margin, carrying every state outside of the South. Roosevelt accepted the loss and later reflected that the relationships and goodwill that he built in the 1920 campaign proved to be a major asset in his 1932 campaign. The 1920 election also saw the first public participation of Eleanor Roosevelt who, with the support of Louis Howe , established herself as
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#17328551111039734-402: The Democrats were badly divided between an urban wing, led by Smith, and a conservative, rural wing, led by William Gibbs McAdoo . On the 101st ballot, the nomination went to John W. Davis , a compromise candidate who suffered a landslide defeat in the 1924 presidential election . Like many, Roosevelt did not abstain from alcohol during Prohibition, but publicly he sought to find a compromise on
9891-539: The Germans, initially to help ready the nation for war. Eighteen months later, after Pearl Harbor, he was then appointed to oversee the wartime economy as "price czar," charged with preventing inflation and corrupt price-gouging from devastating the economy as it swelled to produce the weapons and materiel needed to guarantee victory against fascism. In this, he and his colleagues at the Office of Price Administration had been stunningly successful, guiding an economy that quadrupled in size in less than five years without fanning
10048-402: The Great Depression. Reflecting changing public opinion, the Democratic platform included a call for the repeal of Prohibition; Roosevelt himself had not taken a public stand on the issue prior to the convention but promised to uphold the party platform. Otherwise, Roosevelt's primary campaign strategy was one of caution, intent upon avoiding mistakes that would distract from Hoover's failings on
10205-405: The Great Depression. In the 1932 presidential election , Roosevelt defeated president Herbert Hoover in a landslide victory . During his first 100 days as president , Roosevelt spearheaded unprecedented federal legislation and directed the federal government during most of the Great Depression, implementing the New Deal , building the New Deal coalition , and realigning American politics into
10362-433: The House John Nance Garner of Texas and Al Smith, the 1928 Democratic presidential nominee. Roosevelt entered the convention with a delegate lead due to his success in the 1932 Democratic primaries , but most delegates entered the convention unbound to any particular candidate. On the first presidential ballot, Roosevelt received the votes of more than half but less than two-thirds of the delegates, with Smith finishing in
10519-610: The Interior and Secretary of Agriculture, respectively. In February 1933, Roosevelt escaped an assassination attempt by Giuseppe Zangara , who expressed a "hate for all rulers". As he was attempting to shoot Roosevelt, Zangara was struck by a woman with her purse; he instead mortally wounded Chicago Mayor Anton Cermak , who was sitting alongside Roosevelt. As president, Roosevelt appointed powerful men to top positions in government. However, he made all of his administration's major decisions himself, regardless of any delays, inefficiencies, or resentments doing so may have caused. Analyzing
10676-402: The League, by 1924 he was ready to scrap it. His draft of a "Society of Nations" accepted the reservations proposed by Henry Cabot Lodge in the 1919 Senate debate. The new Society would not become involved in the Western Hemisphere, where the Monroe doctrine held sway. It would not have any control over military forces. Although Roosevelt's plan was never made public, he thought about the problem
10833-512: The NDAC commissioner for price stabilization, became the administrator of OPACS and of OPA in 1941–1942. He oversaw a mandatory and vigorous price regulation that started in May 1942 after OPA introduced the General Maximum Price Regulation (GMPR). It was much criticized by the business community. In response, OPA mobilized the public on behalf of the new guidelines and said that it reduced the options for those who were seeking higher rents or prices. OPA had its own Enforcement Division, which documented
10990-517: The Navy under President Woodrow Wilson during World War I . Roosevelt was James M. Cox 's running mate on the Democratic Party 's ticket in the 1920 U.S. presidential election , but Cox lost to Republican nominee Warren G. Harding . In 1921, Roosevelt contracted a paralytic illness that permanently paralyzed his legs. Partly through the encouragement of his wife, Eleanor Roosevelt , he returned to public office as governor of New York from 1929 to 1933, during which he promoted programs to combat
11147-423: The Navy Department as World War I broke out in Europe in August 1914. Though he remained publicly supportive of Wilson, Roosevelt sympathized with the Preparedness Movement , whose leaders strongly favored the Allied Powers and called for a military build-up. The Wilson administration initiated an expansion of the Navy after the sinking of the RMS Lusitania by a German submarine , and Roosevelt helped establish
11304-424: The New Hampshire primary showed that Johnson was vulnerable. On March 16, 1968, Senator Robert F. Kennedy announced he was entering the presidential race. Kennedy asked Galbraith to withdraw his endorsement of McCarthy and to endorse him instead, a request that Galbraith refused. The historian Arthur M. Schlesinger Jr. , who campaigned with Galbraith in New Hampshire for McCarthy, switched his support to Kennedy, on
11461-641: The OPA as a separate federal agency. It merged OPA with two other agencies: Consumer Protection Division and Price Stabilization Division of the Advisory Commission to the Council of National Defense. The council was referred to as the National Defense Advisory Commission (NDAC), and was created on May 29, 1940. NDAC emphasized voluntary and advisory methods in keeping prices low. Leon Henderson ,
11618-616: The Public Purpose (1973). Written in a clear and concise style, they were comprehensible to lay readers, not just economists. After his retirement from Harvard as the Paul M. Warburg Professor of Economics, Emeritus, he remained in the public spotlight by continuing to write 21 new books, as well as completing a script in 1977 for a major series on economics for PBS and BBC television— The Age of Uncertainty , broadcast in 38 countries. In addition to his books, he wrote hundreds of essays and
11775-465: The Republican Party to launch a third-party campaign against Wilson and sitting Republican president William Howard Taft . Franklin's decision to back Wilson over his cousin in the general election alienated some of his family, except Theodore. Roosevelt overcame a bout of typhoid fever that year and, with help from journalist Louis McHenry Howe , he was re-elected in the 1912 elections . After
11932-452: The Republican gubernatorial nominee, New York Attorney General Albert Ottinger . He won the party's gubernatorial nomination by acclamation and again turned to Howe to lead his campaign. Roosevelt was joined on the campaign trail by associates Samuel Rosenman , Frances Perkins , and James Farley . While Smith lost the presidency in a landslide, and was defeated in his home state, Roosevelt
12089-795: The Southern whites, Catholics, big-city political machines, labor unions, northern black Americans (southern ones were still disfranchised), Jews, intellectuals, and political liberals. The creation of the New Deal coalition transformed American politics and started what political scientists call the "New Deal Party System" or the Fifth Party System . Between the Civil War and 1929, Democrats had rarely controlled both houses of Congress and had won just four of seventeen presidential elections; from 1932 to 1979, Democrats won eight of twelve presidential elections and generally controlled both houses of Congress. Roosevelt
12246-687: The Supreme Court in 1937 , the same year the conservative coalition was formed to block the implementation of further New Deal programs and reforms. Major surviving programs and legislation implemented under Roosevelt include the Securities and Exchange Commission , the National Labor Relations Act , the Federal Deposit Insurance Corporation , and Social Security . In 1940 , he ran successfully for reelection , before
12403-532: The US government wartime economic stabilization measures from a long-term perspective, remains debated. Richard Parker , who earlier had written a well regarded biography of Galbraith had this to say about Galbraith's efforts during the war: [H]e had first gone to work in the nation's capital in 1934 as a 25-year-old, fresh out of graduate school and just about to join the Harvard faculty as a young instructor. He had returned to Washington in mid-1940, after Paris fell to
12560-596: The United States Senate that one of the main causes of the 1965 Kashmir war was American military aid to Pakistan. In early 1968, Galbraith endorsed Senator Eugene McCarthy , who ran against Johnson on an anti-war platform. During the New Hampshire Democratic primary, Galbraith toured the Granite State, giving pro-McCarthy speeches in churches, union halls, campuses and house parties. As McCarthy had
12717-464: The Vietnam War would ruin his presidency and that he should stop taking the advice of Rostow. Galbraith stated that Johnson had the potential to be one of the greatest presidents if only he find a way out of Vietnam, and concluded: "The people who want to invest more and more in this war have nothing to lose. They will end up working for a foundation". In 1966, when he was no longer ambassador, he told
12874-581: The Vietnam war, predicting that Mao Zedong would lose interest in Vietnam now that he had launched his Cultural Revolution. The National Security Adviser, W.W. Rostow , wrote the reply to Galbraith that was signed by Johnson, curtly declaring: "I have never doubted your talent for political craftsmanship, and I am sure you could devise a script that would appear to justify our taking an unjustifiable course in South Vietnam". On June 28, 1966, Galbraith made his final attempt to change Johnson's mind, warning that
13031-603: The Wall Street meltdown of stock prices and how markets progressively become decoupled from reality in a speculative boom. The book is also a platform for Galbraith's humor and keen insights into human behavior when wealth is threatened. It has never been out of print. In The Affluent Society (1958), which became a bestseller, Galbraith outlined his view that to become successful, post–World War II America should make large investments in items such as highways and education, using funds from general taxation. Galbraith also critiqued
13188-663: The Year. The Association for Asian Studies (AAS) conferred its 1987 Award for Distinguished Contributions to Asian Studies. In 1997 he was made an Officer of the Order of Canada . In 2000 he was awarded the US Presidential Medal of Freedom . He also was awarded an honorary doctorate from Memorial University of Newfoundland at the fall convocation of 1999, another contribution to the impressive collection of approximately fifty academic honorary degrees bestowed upon Galbraith. In 2000, he
13345-546: The ability to manage others. He later said, "I took economics courses in college for four years, and everything I was taught was wrong." Roosevelt's father died in 1900, distressing him greatly. The following year, Roosevelt's fifth cousin Theodore Roosevelt became U.S. president. Theodore's vigorous leadership style and reforming zeal made him Franklin's role model and hero. He graduated from Harvard in three years in 1903 with an A.B. in history. He remained there for
13502-582: The age of 97, after a two-week stay in a hospital. He is interred at Indian Hill Cemetery in Middletown, Connecticut . On September 17, 1937, Galbraith married Catherine Merriam Atwater , whom he met while she was a Radcliffe graduate student. Their marriage lasted for 68 years. The Galbraiths resided in Cambridge, Massachusetts , and had a summer home in Townshend, Vermont . They had four sons: J. Alan Galbraith
13659-535: The assumption that continually increasing material production is a sign of economic and societal health. Because of this Galbraith is sometimes considered one of the first post-materialists . In this book, he popularized the old phrase " conventional wisdom ". Galbraith worked on the book while in Switzerland and had originally titled it Why The Poor Are Poor , but changed it to The Affluent Society at his wife's suggestion. The Affluent Society contributed (likely to
13816-501: The civil war in Laos, Galbraith strongly advised him not to, warning him that the disastrous Bay of Pigs Invasion had been caused by Kennedy taking the advice offered by the hawkish Joint Chiefs of Staff , who had assured him that the invasion could not fail and were now saying the same about the proposed intervention in Laos. Galbraith also noted that the ICC was also responsible for Laos as well as
13973-519: The company does not risk its self-reliance. Furthermore, the companies of the industrial system facilitate a system of informal price fixing and price stability to ensure long-term planning is feasible. Galbraith also asserts that the traditional notions of risk most closely associated with small enterprise become less relevant to large industrial enterprises and conglomerates . Risk is diminished, Galbraith says, by advantages large enterprises have in securing longer-term supplier and labor contracts, and by
14130-399: The controls were removed there was only a small increase in prices, thereby demonstrating that inflationary pressures were actively managed and not just kept temporarily under control." Galbraith said in an interview that he considered his work at the OPA as his major life achievement, since prices were relatively stable during WWII. The role of the OPA, however, as well as the whole legacy of
14287-458: The convention, supporters of Johnson challenged Galbraith's right to serve as a delegate, and sought to expel him from the building. Galbraith quarreled with Johnson supporters on the convention floor as he sought to add a peace plank to the Democratic platform, which Johnson saw as an insult to himself, and ordered the delegates to reject. The Mayor of Chicago, Richard Daley, a Johnson supporter, had imposed such stringent security conditions that it
14444-510: The economy – are controlled in practice by a technostructure rather than shareholders; he claims that the technostructure does not act to maximise profit (as that involves the risk of failure) but principally to maintain the organisation and, as a secondary aim, to ensure its further expansion. He says that a key aim of the technostructure is to maintain its control over the company, and so it prefers financing via retained profits to bank borrowing; thus returns to shareholders are lowered to ensure
14601-413: The economy. His statements attacked the incumbent and included no other specific policies or programs. After the convention, Roosevelt won endorsements from several progressive Republicans, including George W. Norris , Hiram Johnson , and Robert La Follette Jr. He also reconciled with the party's conservative wing, and even Al Smith was persuaded to support the Democratic ticket. Hoover's handling of
14758-465: The effects of the depression in his own state established him as the front-runner for the 1932 Democratic presidential nomination. Roosevelt rallied the progressive supporters of the Wilson administration while also appealing to many conservatives, establishing himself as the leading candidate in the South and West. The chief opposition to Roosevelt's candidacy came from Northeastern conservatives, Speaker of
14915-406: The election campaign for the American presidency. During this time (September 1972) he travelled to China in his role as president of the American Economic Association (AEA) at the invitation of Mao Zedong 's communist government, together with fellow economists Wassily Leontief and James Tobin . In 1973, Galbraith published an account of his experiences in A China Passage , writing that there
15072-441: The election in late March. Roosevelt in the process became a popular figure among New York Democrats. News articles and cartoons depicted "the second coming of a Roosevelt", sending "cold shivers down the spine of Tammany". Roosevelt also opposed Tammany Hall by supporting New Jersey Governor Woodrow Wilson 's successful bid for the 1912 Democratic nomination . The election became a three-way contest when Theodore Roosevelt left
15229-514: The election, and Galbraith visited several times to urge him to continue, through Galbraith later admitted "...I don't believe Eugene McCarthy's heart was ever wholly in the battle". At the chaotic and violent Democratic National Convention in August 1968 in Chicago, Galbraith attended as the floor manager for the McCarthy campaign. Amid what was later called a "police riot", as the Chicago police fought in
15386-680: The election, he served as chairman of the Agriculture Committee; his success with farm and labor bills was a precursor to his later New Deal policies. He had then become more consistently progressive , in support of labor and social welfare programs. Roosevelt's support of Wilson led to his appointment in March 1913 as Assistant Secretary of the Navy , the second-ranking official in the Navy Department after Secretary Josephus Daniels who paid it little attention. Roosevelt had an affection for
15543-503: The enemy, as he maintained that most of the young men who joined the Illinois National Guard had only done so to avoid being drafted to fight in Vietnam. After finishing his speech, a National Guard sergeant approached Galbraith, who froze up in fear as he believed he was about to be arrested. Instead the sergeant wanted to shake hands, saying: "Thank you, sir. That was the first nice thing anyone has said about us all week". At
15700-506: The essential points. "I defended it," he wrote, "with a maximum of arrogance and a minimum of tact."' Those findings created a controversy, with Nitze siding with others of the "Officers" managing the survey and with Pentagon officials, who declared the opposite. Later, Galbraith described the willingness of public servants and institutions to bend the truth to please the Pentagon as the "Pentagonania syndrome". In February 1946, Galbraith took
15857-580: The first meeting of the major departmental leaders about kapok and its use. Galbraith also talked about rationing and especially about trickery during fuel allocation. In December 1977, he met the Palauan senator Roman Tmetuchl and eventually became an unpaid adviser to the Palau Political Status Commission. He advocated for minimal financial requirement and infrastructure projects. In 1979 he addressed Palau's legislature and participated in
16014-433: The fleet will ever have for aviation"—Roosevelt personally ordered the preservation of the Navy's Aviation Division . With the Wilson administration near an end, Roosevelt planned his next run for office. He approached Herbert Hoover about running for the 1920 Democratic presidential nomination, with Roosevelt as his running mate. Roosevelt's plan for Hoover to run fell through after Hoover publicly declared himself to be
16171-456: The future of mankind, the United States, and human liberty is being decided in Vietnam. It isn't; this merely builds up a difficult problem out of all proportion. It is also terrible politics". During the 1966 Buddhist crisis in South Vietnam, Galbraith wrote Johnson a letter on April 3 saying he now had "an opportunity only the God-fearing deserve and only the extremely lucky get", saying that if
16328-519: The government of Air Marshal Nguyễn Cao Kỳ should fall, Johnson should use the occasion to pull all Americans out of Vietnam. On June 16, 1966, Galbraith offered to write Johnson a speech that would set out an orderly withdrawal of American forces over the next year. Galbraith advised Johnson the beginning of the Cultural Revolution in China represented an opportunity for a diplomatic settlement of
16485-526: The governor's wife but would also be free to pursue her own agenda and interests. He also began holding " fireside chats ", in which he directly addressed his constituents via radio, often pressuring the New York State Legislature to advance his agenda. In October 1929, the Wall Street Crash occurred and the Great Depression in the United States began. Roosevelt saw the seriousness of
16642-421: The grounds that Kennedy was a far more electable candidate than the eccentric McCarthy, a man most people found to be too silly to be president. Schlesinger strongly urged Galbraith to support Kennedy, but Galbraith chose to continue to campaign for McCarthy, partly because McCarthy's liberalism was closer to his own politics, and partly out of a personal revulsion for Kennedy, who had only opportunistically entered
16799-501: The increase of violations: a quarter million in 1943 and more than 300,000 during the next year. Historians and economists differ over the assessment of the OPA activities, which started with six people, but then grew to 15,000 staffers. Some of them point to the fact that price increases were relatively lower than during the First World War , and that the overall economy grew faster. Steven Pressman , for example, wrote that "when
16956-513: The inflation that had haunted World War I, or leaving behind an unbalanced post-war collapse of the kind that had done such grievous damage to Europe in the 1920s. Opposition to the OPA came from conservatives in Congress and the business community. It undercut Galbraith and he was forced out in May 1943, accused of "communistic tendencies". He was promptly hired by Henry Luce , a conservative Republican and
17113-502: The influence of government and military spending had been largely neglected by most economists because they are not amenable to axiomatic descriptions. In this sense, he worked as much in political economy as in classical economics . His work included several best selling books throughout the fifties and sixties. His major contribution to the field of economics is the so-called American capitalism trilogy: The Affluent Society (1958), The New Industrial State (1967), and Economics and
17270-613: The issue acceptable to both wings of the party. In 1925, Smith appointed Roosevelt to the Taconic State Park Commission, and his fellow commissioners chose him as chairman. In this role, he came into conflict with Robert Moses , a Smith protégé, who was the primary force behind the Long Island State Park Commission and the New York State Council of Parks. Roosevelt accused Moses of using
17427-624: The judiciary, the police force, and organized crime , prompting the creation of the Seabury Commission . The Seabury investigations exposed an extortion ring, led many public officials to be removed from office, and made the decline of Tammany Hall inevitable. Roosevelt supported reforestation with the Hewitt Amendment in 1931, which gave birth to New York's State Forest system . As the 1932 presidential election approached, Roosevelt turned his attention to national politics, established
17584-636: The march of civilization." His platform called for aid to farmers, full employment , unemployment insurance, and old-age pensions. He was elected to a second term by a 14% margin. Roosevelt proposed an economic relief package and the establishment of the Temporary Emergency Relief Administration to distribute those funds. Led first by Jesse I. Straus and then by Harry Hopkins , the agency assisted over one-third of New York's population between 1932 and 1938. Roosevelt also began an investigation into corruption in New York City among
17741-503: The mobilization of the American economy to support the war effort and implemented a Europe first strategy. He also initiated the development of the first atomic bomb and worked with the other Allied leaders to lay the groundwork for the United Nations and other post-war institutions, even coining the term "United Nations". Roosevelt won reelection in 1944 but died in 1945 after his physical health seriously and steadily declined during
17898-517: The name recognition of prominent individuals including Roosevelt to win political support for state parks, but then diverting funds to the ones Moses favored on Long Island, while Moses worked to block the appointment of Howe to a salaried position as the Taconic commission's secretary. Roosevelt served on the commission until the end of 1928, and his contentious relationship with Moses continued as their careers progressed. In 1923 Edward Bok established
18055-551: The next year, Roosevelt remained in Washington to coordinate the naval deployment, as the Navy expanded fourfold. In the summer of 1918, Roosevelt traveled to Europe to inspect naval installations and meet with French and British officials. On account of his relation to Theodore Roosevelt, he was received very prominently considering his relatively junior rank, obtaining long private audiences with King George V and prime ministers David Lloyd George and Georges Clemenceau , as well as
18212-452: The nomination in person. His appearance was essential, to show himself as vigorous, despite his physical disability. In his acceptance speech, Roosevelt declared, "I pledge you, I pledge myself to a new deal for the American people... This is more than a political campaign. It is a call to arms." Roosevelt promised securities regulation, tariff reduction, farm relief, government-funded public works, and other government actions to address
18369-475: The office, as he gained valuable experience in labor issues, wartime management, naval issues, and logistics. In 1914, Roosevelt ran for the seat of retiring Republican Senator Elihu Root of New York. Though he had the backing of Treasury Secretary William Gibbs McAdoo and Governor Martin H. Glynn , he faced a formidable opponent in Tammany Hall's James W. Gerard . He also was without Wilson's support, as
18526-505: The period 1934 to 1939. From 1939 to 1940, he taught at Princeton University . In 1937, he became a citizen of the United States and was no longer a British subject . In the same year, he took a year-long fellowship at the University of Cambridge , England, where he was influenced by John Maynard Keynes . He then traveled in Europe for several months in 1938, attending an international economic conference and developing his ideas. He served for
18683-562: The power to act. During the transition, Roosevelt chose Howe as his chief of staff, and Farley as Postmaster General. Frances Perkins, as Secretary of Labor, became the first woman appointed to a cabinet position. William H. Woodin , a Republican industrialist close to Roosevelt, was chosen for Secretary of the Treasury, while Roosevelt chose Senator Cordell Hull of Tennessee as Secretary of State. Harold L. Ickes and Henry A. Wallace , two progressive Republicans, were selected for Secretary of
18840-483: The president needed Tammany's forces for his legislation and 1916 re-election. Roosevelt was soundly defeated in the Democratic primary by Gerard, who in turn lost the general election to Republican James Wolcott Wadsworth Jr. He learned that federal patronage alone, without White House support, could not defeat a strong local organization. After the election, he and Tammany Hall boss Charles Francis Murphy sought accommodation and became allies. Roosevelt refocused on
18997-589: The president's administrative style, Burns concludes: The president stayed in charge of his administration...by drawing fully on his formal and informal powers as Chief Executive; by raising goals, creating momentum, inspiring a personal loyalty, getting the best out of people...by deliberately fostering among his aides a sense of competition and a clash of wills that led to disarray, heartbreak, and anger but also set off pulses of executive energy and sparks of creativity...by handing out one job to several men and several jobs to one man, thus strengthening his own position as
19154-524: The presidential race when it became clear that Johnson was not invincible. Galbraith had been friends with John Kennedy, but his relations with Robert were more difficult, as Galbraith found Robert too rigid, utterly convinced that he was always right. Galbraith later said that with Robert Kennedy "You were either for the cause or against it, with the Kennedys or a leper". After Kennedy was assassinated, McCarthy became so depressed that he almost dropped out of
19311-456: The process of stabilization of prices and rents. On May 11, 1941, President Roosevelt created the Office of Price Administration and Civilian Supply (OPACS). On August 28, 1941, it became the Office of Price Administration (OPA). After the US entered the war in December 1941, OPA was tasked with rationing and price controls. The Emergency Price Control Act passed on January 30, 1942, legitimized
19468-476: The reputation of being strange and frivolous, Galbraith's support and campaigning for him was important, as McCarthy needed the endorsement of mainstream figures to give him credibility. When the New Hampshire Democratic primary was held on March 12, 1968, Johnson defeated McCarthy by only about 300 votes, a humiliation for an incumbent president with a well funded campaign running against a senator widely considered to be too eccentric to be president, and who had only
19625-446: The results of this is, according to Galbraith, that perfect competition as generally understood in classical economic theory is no longer a useful explanation of the industrial sector (although it is still useful in sectors of the economy that are still dominated by small firms). Galbraith argues that the "industrial system" – by which he means (in general terms) the companies which control around two-thirds of output in key sectors of
19782-513: The situation and established a state employment commission. He also became the first governor to publicly endorse the idea of unemployment insurance . When Roosevelt began his run for a second term in May 1930, he reiterated his doctrine from the campaign two years before: "that progressive government by its very terms must be a living and growing thing, that the battle for it is never-ending and that if we let up for one single moment or one single year, not merely do we stand still but we fall back in
19939-468: The streets with anti-Vietnam war protesters, Galbraith held an impromptu speech outside the Hilton Hotel before a group of demonstrators, urging them to reject violence and to have patience, while assuring them that the American system was capable of reform and change. Galbraith pointed to the armed Illinois National Guardsmen standing in the background and said that they, unlike the Chicago police, were not
20096-502: The task to caregivers. She later said that she knew "absolutely nothing about handling or feeding a baby." They had six children. Anna , James , and Elliott were born in 1906, 1907, and 1910, respectively. The couple's second son, Franklin, died in infancy in 1909. Another son, also named Franklin , was born in 1914, and the youngest, John , was born in 1916. Roosevelt had several extramarital affairs. He commenced an affair with Eleanor's social secretary, Lucy Mercer , soon after she
20253-492: The technical analysis and mathematical modelling of neoclassical economics as being divorced from reality. Following Thorstein Veblen , he believed that economic activity could not be distilled into inviolable laws, but rather was a complex product of the cultural and political milieu in which it occurs. In particular, he posited that important factors, such as the separation between corporate ownership and management, oligopoly , and
20410-443: The telephone without his secretary's help; Franklin, in turn, did not visit Eleanor's New York City apartment until late 1944. Franklin broke his promise to Eleanor regarding Lucy Mercer. He and Mercer maintained a formal correspondence and began seeing each other again by 1941. Roosevelt's son Elliott claimed that his father had a 20-year affair with his private secretary, Marguerite LeHand . Another son, James, stated that "there
20567-512: The three members of the ICC, try help find a diplomatic solution to the Vietnam War. Galbraith told Rapacki that he favored an agreement to neutralize the two Vietnams similar to the neutralization agreement signed for Laos in 1962. On February 5, 1963, Przemysław Ogrodziński , the Polish ambassador in New Delhi, was ordered by his superiors in Warsaw: "As far as the Vietnam matter, we are discussing it. It
20724-456: The time. Franklin had a half-brother, James Roosevelt "Rosy" Roosevelt , from his father's previous marriage. As a child, Roosevelt learned to ride, shoot, sail, and play polo, tennis, and golf. Frequent trips to Europe—beginning at age two and from age seven to fifteen—helped Roosevelt become conversant in German and French. Except for attending public school in Germany at age nine, Roosevelt
20881-659: The two Vietnams, and he had Nehru's word that the Indian diplomats on the ICC were willing to serve as honest brokers for a peace deal to make Laos neutral in the Cold War. In May 1961, the Indian ICC members had been able to broker a ceasefire in Laos and Kennedy decided to go for the neutralization option instead of war. During the talks in Geneva to discuss a solution to the Lao crisis, the chief American delegate, W. Averell Harriman , discovered
21038-439: The unemployed. Recovery meant boosting the economy back to normal, and reform was required of the financial and banking systems. Through Roosevelt's 30 " fireside chats ", he presented his proposals directly to the American public as a series of radio addresses. Energized by his own victory over paralytic illness, he used persistent optimism and activism to renew the national spirit. On his second day in office, Roosevelt declared
21195-651: The use of financial instruments such as commodity futures to mitigate volatility in raw materials prices. Political influence of large industrial concerns in governmental economic and labor policy is cited as another factor that tends to create the stable market conditions that are necessary for corporations' long-term planning of production. The New Industrial State covers much of the same ground as Galbraith's 1958 work, The Affluent Society , but substantially expands and extends those ideas. John Kenneth Galbraith John Kenneth Galbraith OC (October 15, 1908 – April 29, 2006), also known as Ken Galbraith ,
21352-613: The war years. Since then, several of his actions have come under criticism , such as his ordering of the internment of Japanese Americans . Nonetheless, historical rankings consistently place him among the three greatest American presidents. Franklin Delano Roosevelt was born on January 30, 1882, in Hyde Park, New York , to businessman James Roosevelt I and his second wife, Sara Ann Delano . His parents, who were sixth cousins, came from wealthy, established New York families—the Roosevelts ,
21509-457: The workforce was unemployed, and farmers were in deep trouble as prices had fallen by 60%. Industrial production had fallen by more than half since 1929. Two million people were homeless. By the evening of March 4, 32 of the 48 states—as well as the District of Columbia—had closed their banks. Historians categorized Roosevelt's program as "relief, recovery, and reform". Relief was urgently needed by
21666-478: The younger brother and right-hand man of President Diem, to discuss neutralization, a meeting that was leaked to the right-wing American columnist Joseph Alsop . At that point Kennedy lost interest in the "Maneli affair", instead deciding to back an alternative option he had been considering since August: a coup against the Ngo brothers. While in India, he helped establish one of the first computer science departments, at
21823-447: Was homeschooled by tutors until age 14. He then attended Groton School , an Episcopal boarding school in Groton, Massachusetts . He was not among the more popular Groton students, who were better athletes and had rebellious streaks. Its headmaster, Endicott Peabody , preached the duty of Christians to help the less fortunate and urged his students to enter public service. Peabody remained
21980-414: Was "no serious doubt that China is devising a highly effective economic system," "[d]issidents are brought firmly into line in China, but, one suspects, with great politeness," and "Greater Shanghai ... has a better medical service than New York,". He considered it not implausible that Chinese industrial and agricultural output was expanding annually at a rate of 10 to 11%. In 1972 he served as president of
22137-402: Was a Canadian-American economist, diplomat, public official, and intellectual. His books on economic topics were bestsellers from the 1950s through the 2000s. As an economist, he leaned toward post-Keynesian economics from an institutionalist perspective. Galbraith was a long-time Harvard faculty member and stayed with Harvard University for half a century as a professor of economics. He
22294-689: Was a partner in the Washington, DC, law firm Williams & Connolly (now retired); Douglas Galbraith died in childhood of leukemia; Peter W. Galbraith has been an American diplomat who served as Ambassador to Croatia and is a commentator on American foreign policy, particularly in the Balkans and the Middle East ; James K. Galbraith is a progressive economist at the University of Texas at Austin Lyndon B. Johnson School of Public Affairs . The Galbraiths also had ten grandchildren. A memorial plaque stands adjoining
22451-533: Was a prolific author and wrote four dozen books, including several novels, and published more than a thousand articles and essays on various subjects. Among his works was a trilogy on economics, American Capitalism (1952), The Affluent Society (1958), and The New Industrial State (1967). Galbraith was active in Democratic Party politics , serving in the administrations of Franklin D. Roosevelt , Harry S. Truman , John F. Kennedy , and Lyndon B. Johnson . He served as United States Ambassador to India under
22608-565: Was an important figure in 20th-century institutional economics , and provided an exemplary institutionalist perspective on economic power . Among his numerous writings, Galbraith cherished The New Industrial State and The Affluent Society as his two best. As for the later works, economist and Galbraith friend Mike Sharpe visited him in 2004, on which occasion Galbraith gave Sharpe a copy of what would be Galbraith's last book, The Economics of Innocent Fraud . Galbraith confided in Sharpe that "this
22765-401: Was appointed United States Ambassador to India from 1961 to 1963. His rapport with Kennedy was such that he regularly bypassed the State Department and sent his diplomatic cables directly to the president. Galbraith disliked his superior, Secretary of State Dean Rusk , writing to Kennedy that trying to communicate via Rusk was "like trying to fornicate through a mattress". In India, he became
22922-618: Was awarded the Leontief Prize for his outstanding contribution to economic theory by the Global Development and Environment Institute . The library in his hometown of Dutton, Ontario was renamed the John Kenneth Galbraith Reference Library in honor of his attachment to the library and his contributions to the new building. On April 29, 2006, Galbraith died in Cambridge, Massachusetts , of natural causes at
23079-725: Was combining his writing with numerous speeches to business groups and local Democratic party meetings, as well as frequently testifying before Congress. During the late stages of WWII in 1945, Galbraith was invited by Paul Nitze to serve as one of the "Officers" of the Strategic Bombing Survey , initiated by the Office of Strategic Services . It was designed to assess the results of the aerial bombardments of Nazi Germany. The survey found that German war production went up rather than down as German cities were being bombed. Henderson (2006) wrote, 'Galbraith had to fight hard to have his report published without it being rewritten to hide
23236-532: Was done under the strictest secrecy, but by that time, Chen had returned to Beijing. In May 1961, when Vice President Lyndon Johnson visited India, Galbraith had the duty of escorting him around various sites in India and attempting to explain some of his Texas mannerisms such as his shouts of "yee-hah!" that he made when he saw the Taj Mahal, which confused the Indians. From the embassy in New Delhi, Galbraith emerged as
23393-450: Was elected governor by a one-percent margin, and became a contender in the next presidential election. Roosevelt proposed the construction of hydroelectric power plants and addressed the ongoing farm crisis of the 1920s . Relations between Roosevelt and Smith suffered after he chose not to retain key Smith appointees like Moses. He and his wife Eleanor established an understanding for the rest of his career; she would dutifully serve as
23550-413: Was elected in November 1932 but like his predecessors did not take office until the following March. After the election, President Hoover sought to convince Roosevelt to renounce much of his campaign platform and to endorse the Hoover administration's policies. Roosevelt refused Hoover's request to develop a joint program to stop the economic decline, claiming that it would tie his hands and that Hoover had
23707-407: Was hired in 1914. That affair was discovered by Eleanor in 1918. Franklin contemplated divorcing Eleanor, but Sara objected, and Mercer would not marry a divorced man with five children. Franklin and Eleanor remained married, and Franklin promised never to see Mercer again. Eleanor never forgave him for the affair, and their marriage shifted to become a political partnership. Eleanor soon established
23864-439: Was impossible to walk across the convention hall without jostling somebody else, which added to the tension of the convention as pro-war and anti-war Democrats fiercely argued about the platform, all of which was captured live on national television. Adding to the tension were televisions on the convention floor that showed what was happening outside, as the Chicago police attacked and beat anti-war demonstrators. On Daley's orders,
24021-431: Was improving, which he believed to be essential prior to running for office. He laboriously taught himself to walk short distances while wearing iron braces on his hips and legs, by swiveling his torso while supporting himself with a cane. He was careful never to be seen using his wheelchair in public, and great care was taken to prevent any portrayal in the press that would highlight his disability. However, his disability
24178-499: Was in major danger from 20,000 lightly armed Viet Cong guerrillas. Galbraith proceeded to do a statistical comparison, under he which calculated that in proportional terms, Diem had an army that was approximately the ratio to the population that was equivalent to that of the U.S Army to the American people after the Civil War, while the Viet Cong had a ratio equivalent to that of the Sioux vs
24335-484: Was raised in Dunwich Township, Ontario . He had three siblings: Alice, Catherine, and Archibald William (Bill). By the time he was a teenager, he had adopted the name Ken, and later disliked being called John. Galbraith grew to be a very tall man, attaining a height of 6 feet 9 inches (206 cm). His father was a farmer, school teacher, president of a cooperative insurance company, and local official of
24492-399: Was received with interest. Deliberations will continue. As for now, we suggest inviting Galbraith to lunch and sounding [him] out, without committing ourselves, in order for him to see that we are looking into this matter". Although Galbraith had acted on his own in approaching Rapacki, he had some support from Kennedy, who told him "to pursue the subject immediately." This was the origin of
24649-574: Was well known before and during his presidency and became a major part of his image. He usually appeared in public standing upright, supported on one side by an aide or one of his sons. Beginning in 1925, Roosevelt spent most of his time in the Southern United States , at first on his houseboat, the Larooco . Intrigued by the potential benefits of hydrotherapy , he established a rehabilitation center at Warm Springs, Georgia , in 1926, assembling
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