James Galbraith on Inequality

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4.7 • 4.4K Ratings

🗓️ 29 April 2013

⏱️ 62 minutes

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Summary

James Galbraith of the University of Texas and author of Inequality and Instability talks with EconTalk host Russ Roberts about inequality. Galbraith argues that much of the mainstream analysis of inequality in the economics literature is flawed. Galbraith looks at a variety of different measures and ways of analyzing income data. In the podcast he focuses on how much of measured inequality is due to changes in specific counties or industries. Other topics discussed include the state of economics in the aftermath of the Great Recession and the importance of the government safety net and other social legislation.

Transcript

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0:00.0	Welcome to Econ Talk, part of the Library of Economics and Liberty.
0:06.4	I'm your host, Russ Roberts of Stanford University's Hoover Institution.
0:11.0	Our website is econtalk.org where you can subscribe, comment on this podcast, and find links
0:16.3	and other information related to today's conversation.
0:19.0	You'll also find our archives where you can listen to every episode we've ever done going
0:23.3	back to 2006.
0:25.4	Our email address is maladycontalk.org.
0:28.0	We'd love to hear from you.
0:29.8	Today's April 16, 2013, and my guest is James Galbraith of the University of Texas.
0:38.5	His latest book is Inequality and Instability.
0:41.2	James, welcome to Econ Talk.
0:42.7	Good to be with you.
0:45.0	Before I get started, I want to mention I recently hosted an event at Butler University
0:49.1	that was co-sponsored with Liberty Fund.
0:51.6	The event was called Capitalism Government and the Good Society, Richard Epstein, Mike
0:56.1	Munger, and Robert Skydelsky spoke on the topic, and then I moderated a conversation between
1:00.5	the three of them.
1:02.3	Today's guest, James Galbraith, was supposed to make that a quartet, but weather intervened
1:06.7	and he wasn't able to arrive in time for the program.
1:09.4	There will be a very nice video of the event produced by John Popola when it's available.
1:13.2	We'll put up a notice at the econtalk homepage, and I'll tweet on it.
1:17.0	I remind you that you can follow me on Twitter at econtalker, e-c-o-n-t-a-l-k-e-r, and
	...

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