The recent financial crisis has once again seen John Kenneth Galbraith return to the bestseller lists. Yet, despite the continued popular success of his works, Galbraith's contribution to economic theory is rarely recognized by today's economists. This book redresses the balance by providing an introductory and sympathetic discussion of Galbraith's theoretical contributions, introducing the reader to his economics and his broader vision of the economic process. The book highlights and explains key features of Galbraith's economic thought, including his penetrating critique of society, his distinctive methodology, his specific brand of Keynesianism and his original - but largely ignored - contribution to the theory of the firm. It also presents, for the first time, a detailed examination of Galbraith's monetary economics and revisits his analysis of financial euphoria. This unique work seeks to rehabilitate Galbraith's contribution, setting out several directions for possible future research in the Galbraithian tradition.
Dr Stephen Dunn is the Director of Delivery and Development for the NHS Trust Development Authority and a Visiting Professor in the Business School at the University of the West of England.
Dunn is an international authority on John Kenneth Galbraith and is widely published in leading economics journals. In 2000 Dunn received the prestigious K.William Kapp prize from one of Europe's largest economics associations. He has recently published "The Economics of John Kenneth Galbraith" with Cambridge University Press and the four volume reference collection, "John Kenneth Galbraith: The Economic Legacy", with Routledge.
For the past ten years he has also been leading the creation of a more commercial and competitive NHS. As a Senior Civil Servant in the Department of Health he was a principal architect of the flagship 'Foundation Trust' policy and Director of Policy on the "Our Health, Our Care, Our Say" white paper. Dunn is also the architect of the first competitive NHS acquisition at Bedfordshire and Luton and the innovative operating franchise at Hinchingbrooke.
In 2012 Dunn introduced the Friends and Family test into hospitals across midlands and east Anglia. The test was endorsed by David Cameron for roll out across the rest of the NHS. In 2011 Dunn received the "Outstanding Contribution by an Individual" award from HealthInvestor recognising his efforts in transforming the NHS. He also received the Laing and Buisson Independent Healthcare 2012 "Outstanding Contribution" award.
In his spare time Dunn is a serious painter. A series of paintings based on Galbraith's book "The Great Crash 1929" can be viewed, alongside other works, at www.artmarket.org.uk. Follow him on twitter @Stephen_P_Dunn