The author's response to the political and economic condition of the West today, this book traces the growth of a new, stultifying contentment in our society. Galbraith contrasts the condition of the underclass to that of the self-serving, politically dominant classes. He looks at the causes and by-products of the current politico-economic stasis, such as short-term thinking and investment, and draws parallels between the crippling denial of trouble in Eastern Europe and that in our own backyard. The author also wrote "The Affluent Society" and "The New Industrialist State".
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Customer Reviews
Most Helpful Customer Reviews
8 of 9 people found the following review helpful
By O. Buxton
Format:Paperback
Amazing how a few months can make a big difference to a reputation. The late J. K. Galbraith, until recently seen as some anachronistic old buzzard of the left, entirely out of touch with the latter-day world of neo-classical righteousness (sample quotes from an Amazon.com review: "a man who's been wrong so often and on almost every big issue over the last forty years" and whom "no self-respecting economist worth his or her salt would define as such"), is suddenly as popular, in his own field, as J. K. Rowling is in hers.
Suddenly, Galbraith's books, including this once-forlorn, last-ditch attempt to resuscitate the economics of a kinder age, are flying out of the stores.
Timing is everything. What might have seemed curmudgeonly moaning from an old pinko now, through the wreckage wrought on Wall Street and Main Street, has an air of cool, detached prescience. It reads like an eerily resonant prescription for our times. Suddenly, the folly of cycling no-handed down a hill seems obvious (it having hitherto escaped us).
We might not agree with Galbraith's underpinning leftist values - the objection still stands that it's hard to see how an uninformed, unskilled, own-agenda-pursuing bunch of politicians and civil servants could do any better with something as complex as an industrial economy - but then so does its counterpoint: it's hard to see how they could have done any worse.
For now the sanctuary of expertise is hollow, and the world less cares than it ever did what self-respecting economists, let alone highly paid financiers, have to say.... Read more ›
Suddenly, Galbraith's books, including this once-forlorn, last-ditch attempt to resuscitate the economics of a kinder age, are flying out of the stores.
Timing is everything. What might have seemed curmudgeonly moaning from an old pinko now, through the wreckage wrought on Wall Street and Main Street, has an air of cool, detached prescience. It reads like an eerily resonant prescription for our times. Suddenly, the folly of cycling no-handed down a hill seems obvious (it having hitherto escaped us).
We might not agree with Galbraith's underpinning leftist values - the objection still stands that it's hard to see how an uninformed, unskilled, own-agenda-pursuing bunch of politicians and civil servants could do any better with something as complex as an industrial economy - but then so does its counterpoint: it's hard to see how they could have done any worse.
For now the sanctuary of expertise is hollow, and the world less cares than it ever did what self-respecting economists, let alone highly paid financiers, have to say.... Read more ›
3 of 6 people found the following review helpful
By Dajx
Format:Paperback
Galbraith has a somewhat clunky style, but beneath the convoluted prose he clearly feels pretty strongly that all is less than well with American capitalism. Ten years on, much of his commentary on the real estate boom and S&L scandal of the late 1980's reads depressingly well today with the word "dotcom" substituted. His deadly de-construction of corporate greed and kleptocractic CEO's is drily written, but not without venom.
Overall, an interesting book of its time that still has pointed things to say about the US military-industrial complex on the eve of Gulf War II.
Overall, an interesting book of its time that still has pointed things to say about the US military-industrial complex on the eve of Gulf War II.
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
4.1 out of 5 stars
9 reviews
11 of 11 people found the following review helpful
5.0 out of 5 stars
Prescient insights!
16 Mar 2003
By JC in MN
- Published on Amazon.com
Format:Paperback
After reading this book I was struck with the profound nature of both the "Economic Accommodation I/II" and "Military Nexus I/II" chapters with regard to the current tax cut proposals and the impending war with Iraq. As Galbraith asserts in Economic Accommodation concerning questionable supply-side tax policy, "it must be emphasized, the required doctrine need not be the subject of serious empirical proof." When, oh when, are we going to realize as an overall society that the 80's boom was a deficit spending trick and the late 90's boom was the product of massive business productivity gains from global expansion after communism, computer/telecom technology and increasing consumer debt (not "the maestro"). As Galbraith points out, the long-term implications of these macro-economic policies are scary, but our culture seems incapable of thinking long-term. The Military Nexus section also makes you wonder about the "War on Terror". A conventional military war on an invisible (or nearly invisible) enemy - Hmmm? Excellent book!
10 of 11 people found the following review helpful
5.0 out of 5 stars
Excellent
15 July 1999
By A Customer
- Published on Amazon.com
Format:Paperback
This and all of Galbraith's books are classic. I noticed his books sometimes have gotten rather negative reviews. These seem to come from the same people who will be voting for Pat Buchanan for president. Galbraith is very much a Democrat. His ideas are "liberal". That does not stop him from being one of the most brilliant Economists of the 20th century. The joy of reading his books goes beyond just Gabraith's ideas. In reading his books one gets to know him. He is the sort of writer who lets the reader into his world. Some people may not like what he says. It is hard to take a look at yourself sometimes. Others will cherish his writing.
8 of 9 people found the following review helpful
5.0 out of 5 stars
Read it for yourselves!
1 Mar 1999
By A Customer
- Published on Amazon.com
Format:Paperback
It's was the lying, reactionary hot air of mindless regurgitating tools like "Kevalgyan" which prompted me to buy and read this book for myself. Galbraith clearly points out (with credible sources and accurate detail) how the immediate greed and the relentless bigger, better, faster drive for ever-higher profits by the economic elite system (which basically run the government and control the media) are planting the seeds of its own destruction. I implore all to read this book. Turn off the reactionary distortion and open your eyes!
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4.1 out of 5 stars
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