First published 2008
James Galbraith confronts three decades of failed economic policy rooted in Reagan-era thinking and amplified under George W. Bush. The author systematically dismantles four core principles that have guided Washington: tax cuts for the wealthy, deregulation, inflation fears, and free-floating currency rates. Galbraith argues that mainstream economists have already proven these policies failures, pointing to supply-side economics as illusory and highlighting how deficits and inequality create real harm. He traces direct connections between this agenda and economic disasters across Latin America and Africa, from Argentine bread riots to Brazilian hyperinflation to African capital flight. The author names specific political leaders who have abandoned evidence-based policy in favor of ideology. Galbraith bridges the dangerous gap between economic research and political action, offering both a detailed critique of Republican economic stewardship and concrete alternatives for future policy.
Genres: political-science, politics, economics, non-fiction, academic, american-history
Vibes: thought-provoking
Tropes: informed-consent
Setting: Africa, Argentina, Brazil, Latin America, Washington
Period: 1980s, 2000s
240 pages · Hardcover · Free Press