
A book on the ways that our "convential wisdom" on economics don't track
to a wealthy society. Makes good points in favour of government spending
that convinced my small-gov peabrain. Not as inspiring of a writer as
Henry George though. Most of Galbraith's urged adjustments to our
collective feelings about taxation and gov't spending are still undone. As
relevant today as when it was written.
I do think there are
some compelling counterpoints to Galbraith's criticism of private goods
production. He often uses car manufacture as examples. He points out that
the R&D put into new car models is goaled around what can be
advertised to consumers to make them ditch their old models. I'm no fan of
car companies so I'll give him that one. But, the computer and software
revolution feels to me like a case where private companies have
substantially improved the lives of the average person. The fundamental
ground work for the internet, and computers, was laid by military research
of course, but the private market used that kernel (heh) of research and
infrastructure and fundamentally changed the world. Now, some people may
argue it hasn't been for the better. We can agree to disagree.
Anyway
in general I agree that we could do well to spend more money on public
infrastructure. Now, exactly what infrastructure that should be is the
tricky part. He makes a few to many favourable mentions of urban renewal
projects and highway building for my liking...