Quiz: John Kenneth Galbraith

I. True or False

1. For Galbraith, the ultimate solution to modern American problems is small government along with tax cuts.

2. In his book The Anatomy of Power, Galbraith claimed that organizations used two types of powers: compensatory power and conditioned power.

3. Veblen called the modern influence of advertisement "dependence effect" what Galbraith called "pecuniary emulation."

4. Galbraith was a critic of the neoclassical (or orthodox) economic assumption "more output is always better than less".

II. Short Answers

1. What is wrong with the assumption of the mainstream economists "more output is always better than less"?

2. Why does the GDP maximization not always equal to better wellbeing? Give two examples and explain your argument.

3. What were Galbraith's main social concerns? List two and explain.

4. What should be the goals of development for the poor countries, Symbolic Modernization, Maximized Economic Growth [=GDP], or Selective Growth? List the advantages and disadvantages of each of the growth mode.

III. Extra Credit

5. How can social democracy cure the phenomenon of "private opulence and public squalor"? Take Sweden or another Nordic democracy as example.

Total words: 300 approx.

For the short answer don't write essay, just answer them in few sentences.

Attachment:- Readings.rar