On the economics of abundance

This book revisits John Kenneth Galbraith's classic text The Affluent Society in the context of the background to, and causes of, the global economic crisis that erupted in 2008. Each chapter takes a major theme of Galbraith's book, distils his arguments, and then discusses to what extent they cast light on current developments, both in developed economies and in the economics discipline. The themes include: inequality, insecurity, inflation, debt, consumer behaviour, financialization, the economic role of government ('social balance'), the power of ideas, the role of power in the economy, and the nature of the good society. It considers the current problems of capitalism and the huge challenges facing democratic governments in tackling them. Written in non-technical language, this book is accessible to students of economics and the social sciences as well as to those who would have read The Affluent Society and the general reader interested in contemporary affairs and public policy.

This book revisits John Kenneth Galbraith's classic text The Affluent Society in the context of the background to, and causes of, the global economic crisis that erupted in 2008. Each chapter takes a major theme of Galbraith's book, distils his arguments, and then discusses to what extent they cast light on current developments, both in developed economies and in the economics discipline. The themes include: inequality, insecurity, inflation, debt, consumer behaviour, financialization, the economic role of government ('social balance'), the power of ideas, the role of power in the economy, and the nature of the good society. It considers the current problems of capitalism and the huge challenges facing democratic governments in tackling them. Written in non-technical language, this book is accessible to students of economics and the social sciences as well as to those who would have read The Affluent Society and the general reader interested in contemporary affairs and public policy.

Please note: This is a companion version & not the original book. Sample Book Insights: #1 Wealth is not without its advantages, but it is also the enemy of understanding. The poor man has always had a clear understanding of his problem and its solution: he hasn’t enough and he needs more. The rich man can assume a much greater variety of ills and he will be less certain of their solution. #2 The first task is to see the way our economic attitudes are rooted in the poverty, inequality, and economic peril of the past. Then we must examine the devices and arguments by which we have managed to maintain an association with the older ideas, which stemmed from a world where nearly all were poor. #3 This essay is not an angry one. It does not lack in that beguiling modesty which is so much in fashion in social comment. It contains many negative thoughts, and they cannot but strike a discordant note in a world of positive thinking. #4 The problems of an affluent world that does not understand itself may be serious, but they are not as serious as those of a poor world where the simple exigencies of poverty preclude the luxury of misunderstanding.