James K. Galbraith holds the Lloyd M. Bentsen Jr. Chair of Government/Business Relations at the Lyndon B. Johnson School of Public Affairs, the University of Texas at Austin. His most recent book, Inequality and Instability was published in March, 2012 by Oxford University Press. The next will be The End of Normal, from Free Press in 2014.

Galbraith holds degrees from Harvard (A.B., 1974) and Yale (PhD in Economics, 1981). He won a Marshall Scholarship to King’s College, Cambridge, and then served on the congressional staff, including as Executive Director of the Joint Economic Committee. He is chair of Economists for Peace and Security and Senior Scholar at the Levy Economics Institute.

In 2010 he was elected to the Accademia Nazionale dei Lincei. In 2012, he was President of the Association for Evolutionary Economics. He is the 2014 co-winner of the Leontief Prize for advancing the frontiers of economic thought.

By this expert

Capitalism’s Great Reckoning

Article | Jun 24, 2019

As the maladies of modern capitalism have multiplied, fundamental questions about the future of the world’s dominant economic model have become impossible to ignore. But in the absence of viable alternatives, the question is how to reform a system that is increasingly at odds with democracy.

Piketty's World Inequality Review: A Critical Analysis

Article | Jan 2, 2019

Thomas Piketty and his colleagues have insisted that tax records are better for measuring inequality than income surveys. They’re wrong.

Economic Forecasting Models & Sanders Program Controversy

Article | Feb 26, 2016

The Romer/Romer letter to Professor Gerald Friedman marks a turning point. It concedes that there are indeed important issues at stake when evaluating the proposed economic policies of Presidential Candidate Bernie Sanders. These issues go beyond the political debate and should be discussed seriously between and among professional economists.

Greece Has Made Tough Choices. Now It's the IMF's Turn.

Article | Jun 18, 2015

The International Monetary Fund’s chief economist, Olivier Blanchard, recently asked a simple and important question: “How much of an adjustment has to be made by Greece, how much has to be made by its official creditors?” But that raises two more questions: How much of an adjustment has Greece already made? And have its creditors given anything at all?

Featuring this expert

The Best Way to Measure Inequality

Video | Jan 30, 2019

Thomas Piketty and his colleagues have insisted that tax records are better for measuring inequality than income surveys. They’re wrong.

Glasnost and Perestroika in Economics

Video | Jul 25, 2018

James Galbraith says academic economics is in need of radical reform

Lazonick links stock buybacks to America’s jobs challenge

Video | Nov 4, 2016

In an Al Jazeera documentary “In Search of the Great American Job”, Institute scholar William Lazonick offers some arch insights into the relationship between financialization — particularly the “shareholder value” ideology in corporations, which drives the transfer of profits to shareholders through stock buybacks — and job creation and inequality.

Austerity without debt relief courts new unrest in Greece

Article | May 9, 2016

Economist James K. Galbraith warns that ‘unrealistic expectations’ by Athens’ creditors is a recipe for turmoil