Status Updates From The Affluent Society

So far, Galbraith discusses the concept of conventional wisdom which believes are vehiculed by large corporations. And that large corporations have the authority of changing it. Pretty self evident, we’ll see what he proposes next with this term.

‘Men of high position are allowed, by a special act of grace, to accommodate their reasoning to the answer they need. Logic is only required in those of lesser rank.’

“There is no chance that monetary policy can have even a minimal effect on consumer spending while its conflict with the machinery of consumer want creation remains unresolved and, in degree, even recognized”

‘Can the bill collector be the central figure in a good society?’

‘One cannot defend production as satisfying wants if that production creates the wants’