Challenge To Affluence.
MYRDAL Gunnar (1963.)
£75.00 [First Edition]
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First edition, first printing. 8vo (210 x 145mm). 172, , pp. Original red cloth, spine lettered and ruled in gilt, publisher's device in blind to front board, top edge blue, dust jacket (dust jacket with small closed tear to head of rear joint, with tape repair, spine panel lightly faded, a very good copy overall). New York, Pantheon Books.
First edition of Gunnar Myrdal's (1898-1987) first book on the economics of the United States since An American Dilemma (1944), his best-known and most influential work, being a landmark socio-economic study of race relations in America. Mydral was also one of the founders of the science of econometrics and won the Nobel Prize in 1974 for his analysis of the 'interdependence of economic, social and institutional phenomena'.
Challenge To Affluence is very much consistent with Myrdal's wider approach to economics, placing a particular emphasis on the relationship between governmental economic planning and social reform. In many respects, the book consists of a broad engagement with John Maynard Keynes, of whom Myrdal was an early supporter. It addresses increases to structural unemployment in the United States as resulting from the rise of a post-industrial economy, with the supply of low-skilled labour outstripping demand, creating a disparity with the relative scarcity of high-skilled workers in the job market. Although Myrdal placed considerable emphasis upon the role of education and the welfare state in stimulating the levels of high-skilled employment required by the American economy, he would ultimately describe Keynes's work on structural unemployment as amounting to short-termism from a policy perspective.
Stock Code: 228621