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American Capitalism
English
153 b
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In this fortieth anniversary edition of a classic text on political economy, John Kenneth Galbraith reasserts the validity of its core thesis: the best and established answer to economic power is the building of countervailing power. Galbraith's work remains an essential guidepost of American mores as well as the American economy. His work explores the balance of forces that add up to a mosaic of prestige in business and power in politics. It provides a unique synthesis of pluralist and elitist concepts of power. While recognizing in his new introduction the diminution of certain forces, such as trade unionism at one end and the national corporation at the other, Galbraith knows that it is not only international competition that accounts for this startling reduction in overall American capitalism, but its internal weakness, noting that "we now know that we may have less to fear from corporate power than from corporate incompetence".
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