John Kenneth Galbraith in Spain

Abstract

From the second postwar period, the morphology of the capitalism of the United States was studied by the spanish economists, and more firmly after the Plan of Stabilization of 1959. Among the explanatory foreign theories of the new managerial capitalism, it was the work of the professor of Harvard John Kenneth Galbraith. The economic ideas of the author of The New Industrial State were soon spread and debated in Spain. Given the nature of his thought, Galbraith found a favorable reception inside the academic, political and managerial establishment. In the development stage of Spain, the thesis of the “technostructure” had a singular reputation. In the democratic transition, the institutionalist and keynesian economist had to face the rise of monetarism by Milton Friedman, establishing in Spain two significant positions about the role of the State in the economy as in other countries.