The Dependence Effect On John Galbraith
John Kenneth Galbraith was influenced by Keynes, Marx, and Veblen. He had a very different outside view compared to our mainstream economists. Through his works he describes many important theories that are still relevant today, for instance, the dependence effect, and the social balance theory that speaks of public as well as private goods.
The dependence effect is commenced with companies using marketing and advertisements as a way of tricking people into thinking that they need something that in all reality is a want. Since we are bombarded with ads everywhere we look it has become such a normal thing to constantly see the commodification of anything and everything under the sun. The dependence effect has also created a strange desire
The dependence effect is commenced with companies using marketing and advertisements as a way of tricking people into thinking that they need something that in all reality is a want. Since we are bombarded with ads everywhere we look it has become such a normal thing to constantly see the commodification of anything and everything under the sun. The dependence effect has also created a strange desire