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 title revisits John Kenneth Galbraith's 'The Affluent Society' from the perspective of the background to, and causes of, the 2008 global economic crisis. Each chapter takes a major theme of his book, distils Galbraith's arguments, and then discusses to what extent they cast light on current developments.
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.
During an election speech in 1957 the Prime Minister, Harold Macmillan, famously remarked that 'most of our people have never had it so good'. Although taken out of context, this phrase soon came to epitomize the sense of increased affluence and social progress that was prevalent in Britain during the 1950s and 1960s. Yet, despite the recognition that Britain had moved away from an era of rationing and scarcity, to a new age of choice and plenty, there was simultaneously a parallel feeling that the nation was in decline and being economically outstripped by its international competitors. Whilst the study of Britain's postwar history is a well-trodden path, and the paradox of absolute growth versus relative decline much debated, it is here approached in a fresh and rewarding way. Rather than highlighting economic and industrial 'decline', this volume emphasizes the tremendous impact of rising affluence and consumerism on British society. It explores various expressions of affluence: new consumer goods; shifting social and cultural values; changes in popular expectations of policy; shifting popular political behaviour; changing attitudes of politicians towards the electorate; and the representation of affluence in popular culture and advertising. By focusing on the widespread cultural consequences of increasing levels of consumerism, emphasizing growth over decline and recognizing the rising standards of living enjoyed by most Britons, a new and intriguing window is opened on the complexities of this 'golden age'. Contrasting growing consumer expectations and demands against the anxieties of politicians and economists, this book offers all students of the period a new perspective from which to view post-imperial Britain and to question many conventional historical assumptions.
Offering a compelling critique of orthodox economic analysis in the public realm, Mike Berry exposes the lack of development in economic thinking in public policy since the economic crisis of 2008. Focusing on both the ethically unacceptable outcomes of recent public policy and the threat of populism and rising nationalism, this book offers noteworthy suggestions for an alternative social democratic future. Both students and practitioners of heterodox economics and public policy will find this a compelling insight into the ethical concerns and social impacts raised by the political ascendency of neoliberal policies in recent decades.
The developed countries, particularly the United States, consume a disproportionate share of the world's resources, yet high and rising levels of consumption do not necessarily lead to greater satisfaction, security, or well-being, even for affluent consumers. The Consumer Society provides brief summaries of the most important and influential writings on the environmental, moral, and social implications of a consumer society and consumer lifestyles. Each section consists of ten to twelve summaries of critical writings in a specific area, with an introductory essay that outlines the state of knowledge in that area and indicates where further research is needed. Sections cover: Scope and Definition Consumption in the Affluent Society Family, Gender, and Socialization The History of Consumerism Foundations of Economic Theories of Consumption Critiques and Alternatives in Economic Theory Perpetuating Consumer Culture: Media, Advertising, and Wants Creation Consumption and the Environment Globalization and Consumer Culture Visions of an Alternative This book is the second volume in the Frontier Issues in Economic Thought series, which provides surveys of the most significant writings in emergent areas of economics -- an invaluable aid in fast-growing fields where genuine new ground is being broken. The series brings together economists, sociologists, psychologists, and philosophers to develop analyses that challenge and enrich the dominant neoclassical paradigm. The Consumer Society is an essential guide to and summary of the literature of consumption and will be of interest to anyone concerned with the deeper economic, social, and ethical implications of consumerism.
This powerfully argued appraisal of judicial review may change the face of American law. Written for layman and scholar alike, the book addresses one of the most important issues facing Americans today: within what guidelines shall the Supreme Court apply the strictures of the Constitution to the complexities of modern life? Until now legal experts have proposed two basic approaches to the Constitution. The first, “interpretivism,” maintains that we should stick as closely as possible to what is explicit in the document itself. The second, predominant in recent academic theorizing, argues that the courts should be guided by what they see as the fundamental values of American society. John Hart Ely demonstrates that both of these approaches are inherently incomplete and inadequate. Democracy and Distrust sets forth a new and persuasive basis for determining the role of the Supreme Court today. Ely’s proposal is centered on the view that the Court should devote itself to assuring majority governance while protecting minority rights. “The Constitution,” he writes, “has proceeded from the sensible assumption that an effective majority will not unreasonably threaten its own rights, and has sought to assure that such a majority not systematically treat others less well than it treats itself. It has done so by structuring decision processes at all levels in an attempt to ensure, first, that everyone’s interests will be represented when decisions are made, and second, that the application of those decisions will not be manipulated so as to reintroduce in practice the sort of discrimination that is impermissible in theory.” Thus, Ely’s emphasis is on the procedural side of due process, on the preservation of governmental structure rather than on the recognition of elusive social values. At the same time, his approach is free of interpretivism’s rigidity because it is fully responsive to the changing wishes of a popular majority. Consequently, his book will have a profound impact on legal opinion at all levels—from experts in constitutional law, to lawyers with general practices, to concerned citizens watching the bewildering changes in American law.
