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I know that this is not a topic completely relevant to the board. However, I assume that there will be a handful of people on here that appreciate Galbraith's contributions to our society.
I liked this summarization from the article...
One of his most influential books, “The Affluent Society,” was published in 1958.
It argued that the American economy was producing individual wealth but hasn’t adequately addressed public needs such as schools and highways. U.S. economists and politicians were still using the assumptions of the world of the past, where scarcity and poverty were near-universal, he said.
“The total alteration in underlying circumstances has not been squarely faced,” he wrote. “As a result, we are guided, in part, by ideas that are relevant to another world. ... We do many things that are unnecessary, some that are unwise, and a few that are insane.”
The article in its entirety....
http://www.msnbc.msn.com/id/12555495/
I liked this summarization from the article...
One of his most influential books, “The Affluent Society,” was published in 1958.
It argued that the American economy was producing individual wealth but hasn’t adequately addressed public needs such as schools and highways. U.S. economists and politicians were still using the assumptions of the world of the past, where scarcity and poverty were near-universal, he said.
“The total alteration in underlying circumstances has not been squarely faced,” he wrote. “As a result, we are guided, in part, by ideas that are relevant to another world. ... We do many things that are unnecessary, some that are unwise, and a few that are insane.”
The article in its entirety....
http://www.msnbc.msn.com/id/12555495/
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