More noted as an economist, John Kenneth
Galbraith is also a
prophet. In 1996, Galbraith told my college class that once leadership
passed to those who had not lived through the Depression, the
safeguards installed in its wake would be dismantled. Scandal, crisis,
and economic collapses were sure to follow. "Democratic capitalism,"
Galbraith said, "has institutional flaws but only personal memories."
-- Carl Pope "Capitalism's Limits, the lessons of
Enron and other crises" Sierra July/August 2002, p. 10.