Status
Available
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Publication
Princeton University Press (2007), Edition: 1st Princeton Ed, 576 pages
Description
With searing wit and incisive commentary, John Kenneth Galbraith redefined America's perception of itself in The New Industrial State, one of his landmark works. The United States is no longer a free-enterprise society, Galbraith argues, but a structured state controlled by the largest companies. Advertising is the means by which these companies manage demand and create consumer "need" where none previously existed. Multinational corporations are the continuation of this power system on an international level. The goal of these companies is not the betterment of society, but immortality through an uninterrupted stream of earnings. First published in 1967, The New Industrial State continues to resonate today.
User reviews
LibraryThing member jwhenderson
I read this when it was first published in 1967. As part of my freshman Honors Econ course I wrote a blistering critique of what I still consider one of the worst books I have ever read. I argued from the point of view shared by Milton Friedman and other free market thinkers that Galbraith believes
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in the superiority of aristocracy and in its paternalistic authority, that consumers should not be allowed choice, and that all should be determined by those with "higher minds" - never mind the choices of the individual consumer. Today Paul Krugman, who in ironic fashion criticized Galbraith as well, represents a similar strain in aristocratic economic thought. In this book Galbraith demonstrates the best example of an advocate of "bad" economics. Show Less
LibraryThing member HadriantheBlind
I would go so far as to say that this is the sort of book that makes understanding modern economics possible. Give it a shot. It's not your ordinary economics book.
LibraryThing member jhudsui
50 years out of date Austrian economics
Subjects
Awards
Notable Books List (1967)
Language
Original language
English
Original publication date
1967
1972 Second edition (revised)
Physical description
576 p.; 4.78 inches
ISBN
0691131414 / 9780691131412