James K. Galbraith

James K. Galbraith teaches economics at the Lyndon B. Johnson School of Public Affairs, The University of Texas at Austin. His next book, with Jing Chen, is Entropy Economics: The Living Basis of Value and Production, forthcoming from the University of Chicago Press.

President Joe Biden speaks during a visit to Fridley, Minn., as part of his administration’s “Investing in America” tour on April 3, 2023.

Bidenomics and Its Discontents Bidenomics and Its Discontents

The White House believes American workers have seldom had it so good. And lots of prestigious economists agree. But the voters aren’t buying. Maybe they know something?

Mar 27, 2024 / James K. Galbraith

It's a Wonderful Life still, banking, bankers

In Defense of the 30-Year Mortgage In Defense of the 30-Year Mortgage

A recent New York Times column argued that the long term fixed-rate loan popular with US homebuyers is unfair to banks. In fact the arrangement—a fruit of the New Deal—is somethin...

Nov 23, 2023 / James K. Galbraith

Biden and McCarthy sitting in chairs in the Oval Office

Next Time, Dammit, Just Default Next Time, Dammit, Just Default

Democrats feared a monster called “default”—but it’s just another Washington scare story.

Jun 9, 2023 / Editorial / James K. Galbraith for The Nation

Joe Biden meets with House Speaker Kevin McCarthy in the Oval Office

The Debt Deal Is a Tragedy The Debt Deal Is a Tragedy

The debt-limit agreement entrenches long-term austerity. It was a huge GOP win.

May 30, 2023 / James K. Galbraith

Biden and McCarthy

More “Dangerous Nonsense” From “The New York Times” on the Debt Ceiling More “Dangerous Nonsense” From “The New York Times” on the Debt Ceiling

There are multiple legal pathways to resolve the current debt “crisis.” Having the president and House speaker agree on spending cuts to programs already approved by Congress is no...

May 18, 2023 / James K. Galbraith

The Debt Ceiling Drama Is All Stagecraft

The Debt Ceiling Drama Is All Stagecraft The Debt Ceiling Drama Is All Stagecraft

Remember: The US Treasury is obligated to make payments. The rest is optics.

May 11, 2023 / Editorial / James K. Galbraith for The Nation

What Elizabeth Warren, Larry Summers, and Paul Krugman All Got Wrong About SVB

What Elizabeth Warren, Larry Summers, and Paul Krugman All Got Wrong About SVB What Elizabeth Warren, Larry Summers, and Paul Krugman All Got Wrong About SVB

It’s a war for the dollar—and the big banks. The rest of us better hold on tight.

Mar 21, 2023 / Editorial / James K. Galbraith for The Nation

Stack of bills

The Debt Ceiling Explained. Once More, With Feeling… The Debt Ceiling Explained. Once More, With Feeling…

What The New York Times doesn’t know might hit you in the wallet.

Jan 19, 2023 / James K. Galbraith

How the Left Should Think About Inflation

How the Left Should Think About Inflation How the Left Should Think About Inflation

There is no compelling reason to raise interest rates, now or later.

Feb 18, 2022 / Editorial / James K. Galbraith for The Nation

Joe Biden

The Democratic Party Platform Needs a Pandemic Plank The Democratic Party Platform Needs a Pandemic Plank

The Biden-Sanders Unity Task Force presumes that the economy will recover as the virus recedes and the world returns to normal. This presumption is wrong at every level.

Jul 29, 2020 / Emma Galbraith and James K. Galbraith

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