Monday, March 5, 2018

The Godley-Tobin Lecture by James K. Galbraith

Presenting the Lecture

Here is the audio file of Jamie Galbraith inaugural Godley-Tobin Lecture. Due to the weather he recorded the lecture before hand. The paper will appear in the Review of Keynesian Economics (ROKE) soon. Jamie presents a macro discussion of income distribution, which he correctly points out has been absent from most discussion of inequality in recent times.

Further, he connects his concern with the data (the UNIDO data that his team at UTIP has worked on for years now) to Wynne Godley's preoccupation with data consistency and accuracy. He also noted that James Tobin's preoccupation with the role of monetary variables, which Wynne certainly admired, is central to understand global inequality. We were very happy to have Jamie give the inaugural lecture, not just because we expected a great presentation, but more importantly because having interacted with both Godley, at the Levy, and with Tobin, at Yale and while he was in the staff at the US Congress, he was in a unique position to provide a thoughtful evaluation of their importance for what I referred (following Wynne) non-hyphenated Keynesianism to the understanding of economics.

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