Quote from harrytrader:
Yep, I have just posted a reference to venerable (since this famous economist is dead recently) J.K. Galbraith's book "Money : whence it came, where it went"
http://www.amazon.com/exec/obidos/t...=sr_1_28/104-5456782-4337553?v=glance&s=books
where he says:
"To see economic policy as a problem of choice between rival ideologies is the greatest error of our time."(p368)
See also
"Fair elections? Not for U.S. companies By Michael Collins, CBS.MarketWatch.com"
http://www.elitetrader.com/vb/showthread.php?threadid=28038
The Economics of Innocent Fraud
by John Kenneth Galbraith (Author)
http://www.amazon.com/exec/obidos/t...=sr_1_18/104-5456782-4337553?v=glance&s=books
Kenneth Galbraith has been at the center of the American economy since before the First World War. In this his new book, he offers a distillation of these years in both the public and the private sectors, the academy and the government, and explains where we are and how we got there. Galbraith argues that inherent in our economic system is a continuing divergence between reality and "conventional wisdom," or as he puts it self-serving belief and contrived nonsense, or "fraud." He contends that we observe the current state of the nation in a cloud of myth, believing that stockholders and owners run our corporate world. In reality, it is the management of giant corporations that controls not only the private sector, but also the public sector, too, from politicians, to the Federal Reserve Bank, to the Pentagon.
In a work filled with provocative ideas that come from his years as an astute observer, Galbraith looks at today's economy and America's military actions in Iraq and sees that the gap between myth and reality has never been wider.
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Milton Friedman, who is a Republican Economist, is saying the same thing:
"You know, people have the image, have the idea, that somehow "we the people" are speaking through the government. That is nonsense."
Here's his interview at federal reserve of Mineapolis
http://minneapolisfed.org/pubs/region/92-06/int926.cfm
Friedman: One unsolved economic problem of the day is how to get rid of the Federal Reserve. The most unresolved problem of the day is precisely the problem that concerned the founders of this nation: how to limit the scope and power of government. Tyranny, restrictions on human freedom, come primarily from governmental institutions that we ourselves set up.
Abraham Lincoln talked about a government of the people, by the people, for the people. Today, we have a government of the people, by the bureaucrats, for the bureaucrats, including in the bureaucrats the elected members of Congress because that has become a bureaucracy too.
And so undoubtedly the most urgent problem today is how to find some mechanism for restructuring our political system so as to limit the extent to which it can control our individual lives. You know, people have the image, have the idea, that somehow "we the people" are speaking through the government. That is nonsense.