Introduction of thought by John Kenneth Galbraith

[kayo]

Dear Dr.Konstantin and colleague

I appreciate for message and guidance of Dr.Konstantin

I introduce thought of John Kenneth Galbraith. He considered framework
of meta cognition that is affected to economy. This is one of
collective consciousness that creates modern culture.

John Kenneth Galbraith indicated dependence effect that advertisement
by producers promoted unconscious desires of consumers. Galbraith
indicated that industry in perfect competition didn’t exist in actual
society. He indicated the following affluent society by rich people.
Especially, complementary relationship between development in micro
economy and social policy in macro economy caused the increase of
middle class from poverty group in citizen that had sovereignty in USA
and the most advanced nations in Europe since WW2.

At the same time, while a lot of immigrants that don’t have
sovereignty become functional class that lost social mobility, they
keep on working physical and uncomfortable labor for sustentation of
society. He paid attention with the following beliefs and values in
the contented citizens as majority that had right to vote.

1.Obsession to property and reward as effort of individual ability and
intellect

2.Procrastination of long term policy with uncertainness that means
burden including tax burden to the satisfied citizens and avoidance of
actual practice by only a lot of discussions for countermeasure

3.The promotion of social policy to upper middle class rather than
underclass

4.Acceptance of spread of military and increase of military
expenditure for defense from insecurity like communisms that threaten
life of the contented citizens

5.Acceptance of large income gap between rich and poor

6.Lack of care and responsibility to functional underclass

7.Lack of public assistance and viewpoint to social unrest by
frustration of functional underclass

8.Adherent to laissez faire system

9.Social welfare as care to underclass causes the decrease of
motivation to freedom from the poverty in people of underclass

10.Economic development by economic and social policy that makes rich
people richer eliminates economic disparity between rich people and
poor people

Most of advanced nations suffered with the progress of stagflation in
large government since Oil shock of 1974.

He indicated that supply-side economics like Reaganomics was spread
in USA and the advanced nations. In the case of Reaganomics,
Reaganomics had tax cut including income tax to rich people, cuts in
expenditures and increase of willingness to work by the cut in welfare
to poverty people, increase of military expenditure, promotion of
investments by relaxation of regulations, adjustment of money supply
for fall in inflation by monetary policy.

I will introduce various thought of culture in the next message