Review: The Affluent Society

The Affluent Society by John Kenneth Galbraith
My rating: 5 of 5 stars

Galbraith's assessment of the 1950's economic scene, the populace's choices, and the then current reasons for the post-war boom, are particularly relevant to our choices today: Affluenza, the decaying environment, decreases in social services, worker rights, materialism, etc.

I disdain economic dogma, the economic beliefs that are so commonly bandied about, and seemingly plausible, but generally unproven and with little merit. Economics abounds with such things, and Galbraith's insights then are wholly relevant now, both as a critique of the current administration's policies, and as a guidepost for a better future.

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Comments

Why Amazon Is Caught in an Unexpected Brawl in New York

#1 I was surprised that less affluent groups and minorities were for Amazon coming to NYC, although I was aware that locals in my area would be in favor. I live in Murray Hill, and it has a large number of software developers, in number and percentage, in Manhattan, and many - most? - people in our zip code earn in the six figures. I've worked as a software developer for over 15 years, and have occasionally been contacted by Amazon for my skills, although I would not put too much on this as I am always being contacted by recruiters, much of worthless. Although I am likely to benefit from Amazon coming to NYC, I am not a fan of the deal in its current incarnation. It takes too much money from our coffers, circumvents city governance, will place a large burden on existing resources, and will drive up costs for many New York residents. It seems the biggest boosters would be the real estate industry, along with anyone that might be able to profit from selling to the behemoth... h...

Former Elections

In a post on another of my sites, a prediction of the 2004 election , I reprinted an email I sent to Brian Lehrer's show of my election prediction. I was wrong in multiple ways, not only because I was overly optimistic, hoping that American's would reject the Republican party, but also because I thought the turn away would be based on mass awareness of economic and social injustice. Even if I had been correct, the turning away I predicted would have likely been based on more concrete and less lofty reasons, since it seems that the Republicans' fall from grace seems more based on their inability to win a war, not the humanitarian crisis of the war itself.

Raison d'Etre (Reason for Being)

I recently picked up Philip Tetlock's Expert Political Judgment , an insightful analysis of expert opinion. Although there are many factors that might distinguish experts in the ability to predict outcomes, liberal versus conservative, intellectual depth and education, source material, etc., Tetlock found that the best predictor of forecasting accuracy was thinking like a fox, as opposed to the hedgehog, ala Isaiah Singer's essay. Fox thinking is nuanced and composed of many different themes, often conflicting, while hedgehogs tend to believe in one big, overarching idea. This site, and my expected use, is to document my own failures and successes in predicting political and economic futures. The title, Elephant's Memory, alludes to the fox-like tendency, maybe even need, to remember one's own flawed predictions and adjust future reasoning accordingly.

Foxes and Hedgehogs

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