
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 book investigates the relevance of John Kenneth Galbraith's economic theories in explaining the causes and consequences of the 2008 global financial crisis. Mike Berry, an economist and academic, utilizes a comparative framework to evaluate how Galbraith's original arguments regarding inequality, debt, and the role of government apply to modern capitalist structures. The text systematically contrasts historical economic observations with contemporary market failures to assess the current state of democratic governance and economic policy.
What You Will Find
Scope Limits
Readers frequently note the accessibility of the prose, which avoids overly technical jargon to reach a broader audience. Experts highlight this work as a useful bridge for students and general readers seeking to apply classical economic critiques to modern financial instability.
Page Count:
224
Publication Date:
2013-01-01
Publisher:
OUP Oxford
ISBN-10:
0191024031
ISBN-13:
9780191024030
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