Description
“The Affluent Society” is a book written by economist John Kenneth Galbraith. It was first published in 1958 and has become one of the most influential works in the field of economics. Galbraith, a Canadian-American economist, addresses the economic and social changes in the United States during the post-World War II period.
In “The Affluent Society,” Galbraith challenges the prevailing economic ideas of the time and critiques the notion that increased production and consumption automatically lead to societal well-being. He introduces the concept of the “dependence effect,” arguing that modern economies create artificial needs and wants through advertising and marketing, thereby shaping demand rather than merely responding to it.
Galbraith also discusses the idea of “private affluence and public squalor,” highlighting the disparities between the private wealth of individuals and the underinvestment in public goods and social services. He calls for a reevaluation of societal priorities to ensure that public needs are adequately addressed.
“The Affluent Society” is known for its wit, clarity, and critical analysis of economic and social structures. It has been influential in shaping debates on economic policy and inequality. Galbraith’s work remains relevant for those interested in understanding the relationship between economic growth, consumerism, and societal well-being.
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