Monday, September 27, 2010

James Grant on John Kenneth Galbraith

James Grant is an author and editor of Grant's Interest Rate Observer and my favorite financial writer. Everything he writes is worth reading. He has good economic sense and a marvelous writing style featuring many elegant turns of phrases. His book Money of the Mind is an outstanding history of credit markets from the Civil War through the 1980s.

In Saturday's Wall Street Journal, Grant has a piece on John Kenneth Galbraith. As he says, Galbraith "avoided technical jargon and wrote witty prose—too bad he got so much wrong." In the accompanying box there is a nice list of economists who also wrote in plain English, but got much right. This list includes Murray Rothbard, Henry Hazlitt, and Benjamin Anderson.

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