The Culture of Contentment

by John Kenneth Galbraith

This book traces the course of America's current sense of contentment, stemming from the economic comfort achieved by the fortunate, politically dominant community during the Reagan-Bush era of the 1980s. Galbraith focuses on the results of this stasis, including short-term thinking and investment, government as a burden, and corporate sclerosis. The author also explores international issues, such as the parallels between the denial of trouble in Eastern Europe and problems unrecognized in America. This book is a groundbreaking assessment of the future of America.

Genres: Economics, Nonfiction, Politics, Sociology, Philosophy

195 pages, Paperback

First published January 1, 1992

About the author

John Kenneth Galbraith was a Canadian-American economist. He was a Keynesian and an institutionalist, a leading proponent of 20th-century American liberalism and democratic socialism. His books on economic topics were bestsellers in the 1950s and 1960s. A prolific author, he produced four dozen books & over a 1000 articles on many subjects. Among his most famous works was his economics trilogy: American Capitalism (1952), The Affluent Society (1958) & The New Industrial State (1967). He taught at Harvard University for many years. He was active in politics, serving in the administrations of Franklin Roosevelt, Harry Truman, John Kennedy, and Lyndon Johnson. He served as US Ambassador to India under John F. Kennedy.

He received the Presidential Medal of Freedom twice: one in 1946 from President Truman, and another in 2000 from President Clinton. He was also awarded the Order of Canada in 1997, and in 2001, the Padma Vibhushan, India's second highest civilian award, for strengthening ties between India and the USA.

Reviews

[Ed]

If you want to really understand why the economy is in the state it is in you should read this marvelous 1992 book by the late and great JK Galbraith. It is funny and very insightful. He basically argues that the economy and electoral system has been rigged by the comfortable (and he admits he is one of those)to not only keep the underclass under, import cheap labor and goods and boost the short term and screw the long term. His book The New Industrial State completely changed my personal life and this book is something of a sequel. Even if you don't read economics books, try this one to get some understanding of the tsunami that has come to an economy near you!

[Rachel Y]

Mm mm mm love when they give it to me straight. Gotta read moarrr by this mannn

No mind blowing new concepts here, but the framework of contentment (and the work he does to run everything through the framework) is super potent and I anticipate being very useful for navigating /thinking about the politics of today in a productive way. Seeing that these blockers have been in place for a very very long time (particularly entrenched / in free fall since the 90s) is actually quite comforting, and it allows me to accept certain facts and move forward, rather than resist and try fighting an unwinnable fight.

Highlights:
Peace dividends
Contented people and short term thinking
"In the long run, you're dead"
Military requires no enemy
Bailouts, social security, and military: unrestricted
Everything else: hands off

[Jrohde]

I first read this book 20 years ago, within weeks after published, and like it then.I picked it up again thinking it would be an interesting contrast with the present - it reads like it was written TODAY - even during the occupy WS movement. Superb use of English, excellent insights, entertaining and concise. one of his best and so highly relevant in these times of greed and rapaciousness.

[Alex Leong]

Equal parts satire and admonition, John Kenneth Galbraith turns his piercing gaze on the matter of the modern aristocracy, what he calls the "culture of contentment." It is recommended to read his previous work, especially the one about the 1929 crash to get a sense of why he makes this argument. He puts together a compelling explanation for the alienation of the elites from the American masses, the radical disconnect between American ideals and what policies are actually implemented. One cannot help but chuckle at the myriad examples he provides, which are rapidly turning into predictions come true. The Culture of Contentment is an important read as it illustrates that what is happening now has happened, is nothing new, and will continue to happen. One must take a long view of history.

[Fernando Pestana da Costa]

I did not knew Galbraith's works when I bought and first read this book fourteen years ago, in June 1993. I was then living in Edinburgh, in the the final stages of the writing process of my PhD thesis in mathematics, and I can vividly remember the strong impression this book made upon me in that first reading. After that, I read bits of chapters from time to time, but only now, some fourteen years later, I got back to read it again in full. If one discounts the concrete allusions to the Reagan and Bush (Senior) administrations and focus on the wider picture, the main argument is very much still valid nowadays. An excellent little book by one of the sharpest intellects of 20th century economics.

[John]

Docked a star for Galbraith's overly proper English and sentences that sometimes need to be diagrammed to be understood.

The culture of contentment is characterized by: a functional underclass (to do the stuff we won't), military and market worship, fear of high taxes (even for the upper class, since the contented middle class may be next), hatred of government intervention (except for bailouts and subsidies), and short-term thinking.

"Three plausible possibilities [for the end of the culture of contentment]: widespread economic disaster, adverse military action that is associate with international misadventure, and eruption of angry underclass."

Two out of three. w00t!

[Agustín Cordoba Percibaldi]

3.5 Estrellas. Hace un análisis de la sociedad de los Estados Unidos en una época de la que no fui testigo, pero aún así relata válidamente ciertos comportamientos de la "cultura de la satisfacción". En otras de sus afirmaciones no estoy de acuerdo, pero en general un buen libro que analiza la permanencia de una élite gobernante por sobre las clases mas desfavorecidas, abarcando desde la década del 30' y la Gran Depresión hasta los 90'

[Toby Newton]

Brilliant - must read. By turns, acerbic, quietly furious, damning and incredulous, but always beautifully written and horribly revealing of the self-serving community of complacent cultural aristocrats, whose community includes yours truly, and who are sleep walking into oblivion.

[Steve]

Frightening and insightful when you consider the events from 2007 onwards

[Anthony Norris]

We only see wisdom, after the event?
Galbraith I am informed by friends who know, went out of 'fashion' as an economist, Duh!
Truth is non-negotiable.

[Marko]

I have two different english editions and one german edition: Herrschaft,,

[Lucas]

Interesting, provocative though sometimes a little bit naive. Worth to read it surely

[catalina]

2.5/3?

[Liam Young]

Interesting idea. Taken to far as an explanatory factor by the author though. Also the sentences are written in such an unintuitive way.

[Rafael Val]

Pese a estar escrito hace 20 años su vigencia es perfecta para estos tiempos que vivimos.
Su teoría es divertida, su diagnóstico bastante acertado y sus propuestas de solución discutibles.

[Luis Felipe]

Muy bueno, pero siento que le falta más profundidad.

[Erik Graff]

John Kenneth Galbraith has been my favorite economist since I first started seriously dealing with the discipline upon entering the graduate program at Union Theological Seminary in New York. Part of the attraction is a matter of values, Galbraith having become a democratic socialist before his death. The other part is a matter of style. Not only is he easy to understand, many of his books being intended for the general public, but his writing style in these works is consistently witty and ironic.

This book was published in the early 90s, during the first Bush administration and the first Gulf War, and after the disintegration of the Warsaw Pact. Although dated, much of its text being related to the Reagan recession, many of the problems addressed remain current, Galbraith's recommendations prefiguring much of the current presidential campaign of Senator Sanders of Vermont.

[Álvaro Athayde]

¡¡¡ A LER !!!

Se quiserem perceber os reais fundamentos da actual crise económica e política na Europa e nos Estados Unidos da América leiam este livrinho.

P. S. Existe uma tradução portuguesa, velhinha, da Europa-América.

[Sue Seckinger]

should be read by everyone contemplating their life style and their voting history

[David]

Like I said before, our book club reads ALL kind of books. Mei Mei brought this forward, and we all went nuts!

[Catherine]

A good one-time read.