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  • 31-03-2021
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In 1958 economist Kenneth Galbraith called American a "society of abundance why?

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hrobin4
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  • 31-03-2021

This is so because the "central tradition" economists wrote during a time of widespread poverty where production of basic goods was necessary. U.S. society, at the time of Galbraith's writing, was one of widespread affluence, where production was based on luxury goods and wants.

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