Balancing Acts Technology, Finance And The American Future

Galbraith makes a major contribution to the formation of future U.S. economic policy by linking technology, foreign trade, and the macromanagement of the economy. He argues that the U.S. should take up the mantle of the global leadership role thrust on it and seek to be an agent for progressive change. Galbraith not only defines the problems facing the U.S. economy, but suggests a politically viable way out of the dilemma. He suggests that the key to a noninflationary industrial policy, involves a balancing act whereby the timing of bargaining and pay system is coordinated so as to minimize inflationary expectations. He suggests that world development must rest on retirement of Third World debt; that labor shifts to high-tech industries will result in temporary unemployment that must be cushioned; and that taxes must be increased to meet the deficit. ISBN 0-465-00584-5: $19.95.