Having laid out his critique of the economics of his day – and the policies to which it led – Galbraith felt obliged to offer some indicators as to what should be done and how. He has two main suggestions. First, he argues, it is necessary to cut the link between security and growth, to find ways of providing a basic standard of living not tied to employment. Second, the taxation system must be radically reformed in order to right the social balance between private and public production of goods and services; in particular, the tricks of income tax avoidance favouring the wealthy should be ended and the indirect taxes levied on consumption generalized. The resulting growth in tax revenues can then be used to adequately fund necessary public services. Clearly, recent history had not moved in these directions; this chapter looks at why.
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