The Affluent Society

John Kenneth Galbraith

October 15, 1998

The Affluent Society, written by renowned American economist John Kenneth Galbraith, is a classic analysis of an economy centred on consumerism. Galbraith explains how a shift in focus towards the provision of private goods and the delivery of public services highlights glaring inequalities between the “haves” and “have-nots” in contemporary society. He primarily focuses on the consequences of disparity between public and private sectors and between individual wealth and collective welfare.The author examines the stability of the capitalist system and its power to erase poverty while creating inequality. He argues that public expenditure has a direct influence on economic welfare, but can be disregarded when compared to private good expenditure. For instance, he cautions against the tendency to ignore infrastructure projects in favour of private consumption. As a result, some people get to enjoy the benefits of such investments without having to pay for them.The Affluent Society is a groundbreaking work that provides an insightful glimpse into the world of economics. Through his apt analysis and use of language, Galbraith offers a comprehensive critique of how modern society has come to be. He sheds light on the need for public participation and the redistribution of wealth in order to create a more equitable system for all citizens. In addition, he draws attention to the importance of economic policies that improve social equality and promote economic growth. The Affluent Society is an essential read for those interested in a more balanced distribution of resources.