Map of Kittrell on He scrapped the original book, and, in the process created a revolution in economic thought about capitalism. Political economists before him, Thomas MALTHUS, David RICARDO, Karl MARX, believed in SCARCITY and an iron law of wages that doomed workers to starvation and misery. As Galbraith saw it, this presumption had to be thrown out if post-war capitalism were to be understood. Before writing The Affluent Society, Galbraith had already been an active observer of, and participant in, modern capitalism.
During the war, he worked for the Office of Price Administration (OPA), but was pushed out for his views on regulation. His first major work, American Capitalism (1952), published when he had become an economics professor at Harvard University. In the book, he explained that smaller firms were disappearing, being gobbled up by a small number of corporations.
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