Money: Whence It Came Where It Went by John Kenneth Galbraith. Boston. 1975. Houghton Mifflin. 0395198437. 324 pages. hardcover.
DESCRIPTION - "Most things in life -- automobiles, mistresses, cancer -- are important only to those who have them. Money, in contrast, is equally important to those who have it and those who don't. Both, accordingly have a concern for understanding it. Both should proceed in the full confidence that they can." So writes John Kenneth Galbraith in this book. In it he offers a broad, professional view of the working of money as illuminated by its history from the kings of Lydia down to he present turmoil. No one has ventured such a sweeping and comprehensive look at the subject before; certainly no one has brought to it such a combination of literary skill, historical knowledge and professional economic competence. Henceforth all who speak on money -- and all who merely wish to know about money -- will have to read this book. And it will not be a chore. They will find it an interesting, amusing, and rewarding task.
AUTHOR BIOGRAPHY - John Kenneth ‘Ken' Galbraith (15 October 1908 - 29 April 2006) was a Canadian and later, U.S., economist, public official and diplomat, and a leading proponent of 20th-century American liberalism. His books on economic topics were bestsellers from the 1950s through the 2000s, during which time Galbraith fulfilled the role of public intellectual. In macro-economical terms he was a Keynesian and an institutionalist. Galbraith was a long-time Harvard faculty member and as a professor of economics stayed with Harvard University for half a century. He was a prolific author and wrote four dozen books, including several novels, and published over a thousand articles and essays on various subjects. Among his most famous works was a popular trilogy on economics, American Capitalism (1952), The Affluent Society (1958), and The New Industrial State (1967). Galbraith was active in Democratic Party politics, serving in the administrations of Franklin D. Roosevelt, Harry S. Truman, John F. Kennedy and Lyndon B. Johnson; he served as United States Ambassador to India under the Kennedy administration. His prodigious literary output and outspokenness made him arguably ‘the best-known economist in the world' during his lifetime. Galbraith was one of few recipients both of the Medal of Freedom (1946) and the Presidential Medal of Freedom (2000) for his public service and contribution to science. The government of France made him a Commandeur de la Legion d'honneur.
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