The oldest problem in economic education is how to exclude the incompetent. A certain glib mastery of verbiage-the ability to speak portentously and sententiously about the relation of money supply to the price level-is easy for the unlearned and may even be aided by a mildly enfeebled intellect. The requirement that there be ability to master difficult models, including ones for which mathematical competence is required, is a highly useful screening device.

His work included several best selling works throughout the fifties and sixties. He further believed that market power played a major role in inflation and argued that corporations and trade unions could only increase prices to the extent that their market power allowed them to. The growing concern focused on the role of the corporation in politics the damage done to the natural environment by an unmitigated commitment to economic growth and the perversion of advertising and other pecuniary aspects of culture.

Galbraith was active in Democratic Party politics serving in the administrations of Franklin D. Galbraith was a prolific author who produced four dozen books and over a thousand articles on various subjects. Truman John F.