StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Essay example - Critique on "The Affluent Society"

Only on StudentShare
Pages 5 (1255 words)
John Kenneth Galbraith was born on October 1908. He was a very successful economist and wrote many articles along with quite a many best seller books. He was born in Canada and thus is known as a Canadian American Economist. By nature he was a Keynesian that is he aimed for a stronger public sector rather than a private sector…

Extract of sample

For that purpose he gave an idea in his book "the Affluent Society". This book became a best seller as it highlighted the back draws of lesser public goods such as highways and education.
In this book Galbraith highlighted an important term 'Conventional Wisdom'. This is cited in the 2nd chapter of the book. Conventional wisdom means something that is accepted generally by the public. Conventional wisdom is said to be what the public generally believes will prop development and in economic theory these are well defined in the new growth theory that is somewhat like keeping budget deficits small, keeping a easy to collect tax base, keeping inflation low and spending more on public goods rather than private goods. Inflation has a high impact on almost every sector of the economy. Its awareness is considered very important when it comes to general public and the system should be educated enough to deal with this threat. However inflation is regarded as the best tool for expansion ONLY if it is CONTROLLED.
Inflation is the general increase in the price level. It can also be defined as a persistent or continuous rise in the general price level or in other words it can be presumed as an unrelenting or gradual fall in the value of money. Inflation refers to the change in the general level of prices. ...
Download paper
Not exactly what you need?

Related papers

Society in the USA
But in as much as I don't want to make a drastic change, I have to awaken them in the reality that I have to move. We have to move forward. The kids are growing. They will not be forever children. College is so expensive.…
7 pages (1757 words)
The Proper Role for the Citizen in the Society
Considering all these fact a question arises for each and every individual sooner or later, which's what is the proper role for the citizen in the society. What should we do for to keep the environment we live in balanced, and pleasant to dwell in Are we obliged to contribute to the society we live in Every individual has to find his own answer, or answers for these questions. Those answers come…
10 pages (2510 words)
The study of Society
For example, carnivorous animal like tiger or lion dependents on the annihilation of its prey like deer or rabbit for survival. The deer and rabbit themselves depend on living vegetation for food and survival.…
6 pages (1506 words)
The Discovery of Society
In the book Collins and Makowsky says through the brains of some who are crucial regarding rational order, there has no doubt approved the thought that, along with the Data of Sociology, the preceding chapters have incorporated much which forms a part of Sociology itself. Confessing an obvious explanation for this opposition, the respond is that in no case can the data of a science be assured…
10 pages (2510 words)
Technology's impact on society. Web site critique.
The site wants to send a message that increasing use of technology is leading to erosion in societal values. The web site intends to generate a healthy debate about the uses and misuses of Technology.One school of thought says Increasing technological awareness amongst the people have made lives much more easier. Now we have computers and robots to assist us in almost every walk of life. We can…
4 pages (1004 words)
Swift’s Bashful Muse: A Critique of ‘A Beautiful Young Nymph Going to Bed’
Although written in a period after the reign of Charles II, and well into the time of Queen Anne, the poem is expressively Augustan in spirit. Swift the disillusioned misanthropist revisits the aesthetic and social concerns of an earlier generation of poets like Pope and Dryden to expose and unravel the hypocrisies of his age. The stripping down of the Drury Lane prostitute to the bare essentials…
9 pages (2259 words)