Conventional Common Wisdom

1433 Words3 Pages

At one point in time poverty was the general fact of the world. Man was always expected to live on the line of poverty, majority of the economic thinkers couldn’t see the world moving away from this standard but we did and have gained great affluence. As Society has grown from this poverty stricken state it once was in, into an affluent one the ideas used to run it have yet to change in some ways. In The Affluent Society John Kenneth Galbraith explains how with great economic growth there should be growth in economic ideas as well. The old idea that were for a country that barely could stay above the water are inappropriate for society today. He proves this by naming numerous issues like The conventional Common wisdom, It is considered to be the model of what society’s perceptions of reality is, that we have based our society on .These views are extremely conservative, people have become so reliant on these they are reluctant to change them. Galbraith states that problem with conventional common wisdom is that it does not adjust well with change. “The conventional wisdom accommodates itself not to the world that it is meant to interpret but to the audience’s view of the world. Since the latter remains with the comfortable and the familiar, while the world moves on, the conventional wisdom is always in danger of obsolescence.”(Galbraith 11). Galbraith used many examples to prove how the conventional common wisdom failed. One example used was when conventional wisdom pushed a balanced budget during the great depression which ultimately was designed in a manner that was only going to make things much worse. I agree with the argument Galbraith made on this topic being stuck in ideas that don’t move or make adjustments are going to become irrelevant like conventional common wisdom is always in danger of becoming. For example if a code of conduct from the 1960s was used in today’s schools system it would not work because it wouldn’t address many issues like electronic device usage in a classroom it wouldn’t even have a way to handle such a The amount of people it effects is limited, no longer effecting the majority. Although poverty has minimized it is still significant poverty which is characterized by a numerous amount of things.There are two types of poverty case and insular. “Case poverty is the farm family with the junk-filled yard and the dirty children playing in the bare dirt” (Galbraith 236)Case poverty is not irretraceable and usually caused if someone in the household experiences “ mental deficiency, bad health, inability to adapt to the discipline of industrial life, uncontrollable procreation, alcohol, some educational handicap unrelated to community shortcomings” (Galbraith 236) .Case poverty is often blamed on the people for their short comings but on some levels can be fixed with the help of charities .Insular poverty is where everyone in that area is poor in this situation you are incapable of pinpoint one person shortcomings that caused this poverty. Most modern poverty is insular and is caused by things people in this community cannot control. “The most important characteristic of insular poverty is forces, common to all members of the community that restrain or prevent participation in economic life are going rates of return. These restrains are several .Race, which acts to locate people by their color rather than by the proximity to employment, is

Open Document