The affluent society
by John Kenneth Galbraith · first published 1958
48% recommend48% neutral4% critical
Why HN recommends it
Argues that rich economies overproduce private goods while neglecting public needs like schools, parks, and infrastructure; a critique of blind growth-chasing, useful for anyone questioning consumption-driven economics.
Summarised by Claude from recommending comments
A discussion by a reknown economist, Galbraith, about the "more" society and how it operates.
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This is only tangentially related, but this article reminds me of Galbraith's "The Affluent Society" which should frankly be required reading for undergrad social sciences. In it, he argues that, at the time of writing (late 50s), the industrialized West has largely solved what had previously been the…
on “The rise of influencer capital” ↗…of economic analysis Adam Smith - Theory of Moral Sentiments Kaynes - The General Theory of Employment, Interest and Money Marx - Capital Benjamin Graham - The Intelligent Investor Galbraith - The Affluent Society Galbraith - The Great Crash Milton Friedman - Capitalism and Freedom Nassim Taleb - Black Swan Ron Suskind - Confidence Men Scott Patterson - Dark Pools If you want to delve into heterodox economics…
on “Ask HN: What are the must-read books about economics/finance?” ↗I learned a heck of a lot from reading John Kenneth Galbraith's books. In particular, The Affluent Society, The New Industrial State, and Money: Whence it Came, Where it Went
on “Ask HN: Best book(s) to learn about the basics of economics?” ↗I find it ironic that the New York Times followed this up with "RFK was right, we DO need more jobs." Personally I'm rooting for 'full unemployment'. Everyone should read Galbraith's "the Affluent Society". Our economy is built on scarcity; we couple productivity to consumption (thus, we need jobs because we need to have money so we can buy things so we have jobs). This is idiotic, especially when we don't…
on “After Jobs Dry Up, What Then?” ↗'Commonly accepted' may have been bit of an overstatement on my part. The last place I read about the taxes and overheating thing was in the 'The Affluent Society' written by J. Galbraith. Written in 1958, it was a best seller at the time. The book presents a really good critique about blindly pursuing economic growth. Generally, I am of the opinion that as…
on “Visas for entrepreneurs” ↗…to read and merely recommend a few favorites: 1. I am a big fan of John Kenneth Galbraith, who writes very clearly about a few things. I recommend both "The New Industrial State" and especially "The Affluent Society", where he argues that economics is insufficient to deal with post-scarcity. 2. Deirdre McCloskey's "If You're So Smart" is a great skewering of the blinkered nature of economic inquiry. Much of what…
on “Ask HN: What are the must-read books about economics/finance?” ↗…and to an extent has overrun what's in the book. He's good to watch though. John Kenneth Galbraith tends generally to discuss economics more-or-less in the terms I've been mentioning here, with The Affluent Society and Age of Uncertainty probably being good starting points. I'm not much impressed by and generally strongly discount most Libertarian thinking, though if you'd like a sense of what I consider to be…
on “Technology Change Not the Culprit in Wages Falling Behind US Productivity Gains” ↗If you're honestly looking for a citation, start with Galbraith's The Affluent Society. (https://en.wikipedia.org/wiki/The_Affluent_Society). This was old hat in the 50s. They just didn't realize it was going to burn the planet (and us with it)
on “I changed my mind about advertising” ↗…during inflation. But the broader point that we need a big active public sector that isn't cowering and underfunded to be a modern society is true. Galbraith's get it https://en.wikipedia.org/wiki/The_Affluent_Society
on “A nationwide shortage of public workers” ↗> This is only tangentially related, but this article reminds me of Galbraith's "The Affluent Society" which should frankly be required reading for undergrad social sciences. Oh? What ideological indoctrination does it provide? > In it, he argues that, at the time of writing (late 50s), the industrialized…
on “The rise of influencer capital” ↗The Affluent Society by Galbraith is worth reading on this subject.
on “Post Scarcity Economics” ↗This was also covered in The Affluent Society, which you should read.
on “Unemployment tax or $20000 reasons not to hire someone” ↗This was also covered in The Affluent Society, which you should read.
on “Unemployment tax or $20000 reasons not to hire someone” ↗This reminds me of J K Galbraith's book which I am reading at the moment: http://en.wikipedia.org/wiki/The_Affluent_Society His thesis is that private production is increased by advertising generating artificial wants in consumers: wants that were neither there before, nor very fulfilling to them.
on “In Paris, an anti-ad insurgency grows” ↗…different goods where spatial, territorial and property constraints enter into motion. Also people have been saying this for a long time and it has yet to bear out. Galbraith was railing on about the affluent society, how corporations are somehow artificially inventing wants through advertising and the necessity of an activist state. Developed countries have had their states get larger and more activist to no avail.
on “Goldman Sachs May Be Forced to Fundamentally Question How Capitalism Is Working” ↗