The Affluent Society | Galbraith's Place in the History of Economic Theory
In the following essay, Liz Brent discusses Galbraith’s place in the history of economic theory.
To appreciate the significance of The Affluent Society to economic theory, it is useful to place the work of Galbraith within the broader history of economics as a field of inquiry. Galbraith is associated with the American Institutionalist school of economic theory, which arose in the early twentieth century. Below is a brief overview of the history of economic theory, beginning in the late eighteenth century, and a brief discussion of Galbraith’s influence on the conventional wisdom of attitudes about the role of the economist in American society and culture.
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