The Affluent Society

Front Cover
Houghton Mifflin Harcourt, 1998 - Business & Economics - 276 pages
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John Kenneth Galbraith's classic investigation of private wealth and public poverty in postwar America

 

With customary clarity, eloquence, and humor, Harvard economist John Kenneth Galbraith gets at the heart of what economic security means inThe Affluent Society. Warning against individual and societal complacence about economic inequity, he offers an economic model for investing in public wealth that challenges “conventional wisdom” (a phrase he coined that has since entered our vernacular) about the long-term value of a production-based economy and the true nature of poverty. Both politically divisive and remarkably prescient,The Affluent Society is as relevant today on the question of wealth in America as it was in 1958.

 

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Affluent Society by John Kenneth Galbraith, the late economist, canada born U.S.A imigrated citizen wrote against the american elite, the massive consumption boom, a case for pulic sector actions, the spread effects of headonism, doles-a government policy for distribution of monthly expenses for the unemployed american,the power structure and social communism required. No other text on economics can match its relevance.Its a must read for educated society globally and the economists in particular..
Prof. Aurnob Roy
Economist,
Lucknow University, U.P,
India
 

Contents

The Affluent Society
1
The Concept of the Conventional Wisdom
6
Economics and the Tradition of Despair
18
The Uncertain Reassurance
29
The American Mood
41
The Marxian Pall
55
Inequality
66
Economic Security
81
The Monetary Illusion
166
Production and Price Stability
177
The Theory of Social Balance
186
The Investment Balance
200
The Transition
209
The Divorce of Production from Security
217
The Redress of Balance
223
The Position of Poverty
234

The Paramount Position of Production
99
The Imperatives of Consumer Demand
114
The Dependence Effect
124
The Vested Interest in Output
132
The Bill Collector Cometh
143
Inflation
154
Labor Leisure and the New Class
243
On Security and Survival
255
Afterword
261
Index
265
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About the author (1998)

John Kenneth Galbraith who was born in 1908, is the Paul M. Warburg Professor of Economics Emeritus at Harvard University and a past president of the American Academy of Arts and Letters. He is the distinguished author of thirty-one books spanning three decades, including The Affluent Society, The Good Society, and The Great Crash. He has been awarded honorary degrees from Harvard, Oxford, the University of Paris, and Moscow University, and in 1997 he was inducted into the Order of Canada and received the Robert F. Kennedy Book Award for Lifetime Achievement. In 2000, at a White House ceremony, he was given the Presidential Medal of Freedom. He lives in Cambridge, Massachusetts.

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