affluent society

The term "affluent society" refers to a society characterized by significant wealth and material abundance, where economic prosperity allows for higher living standards and access to a range of goods and services. Coined by economist John Kenneth Galbraith in the 1950s, it emphasizes the idea that while some people thrive economically, there may still be social issues, such as inequality and environmental concerns. An affluent society often leads to increased consumerism, but it also raises questions about sustainability and the well-being of all its members, prompting discussions on how to balance wealth with social responsibility.