ABSTRACT
Galbraith's mockery makes it perfectly clear where he thinks the valuable work in economics is being done. He himself occupies a position near the base of the pyramid and practices the lower economics, which, far from being a term of opprobrium, must in this view be considered an accolade. Galbraith's efforts are nothing short of an attempted revolution in economic science. Galbraith is often criticized for painting on too broad a canvas, for not being a "little thinker". The lower economics is institutional economics, and it possesses its own method, which has been aptly called storytelling. The fear that Galbraith is substituting the judgment of the observer for that of the observed strikes terror in the hearts of economists. Unfortunately economics is a repressed science and Galbraith has tried to help overcome its inhibitions. Regrettably the analysis is still at the stage where the analyst is resented.
