New Industrial State, The (James Madison Library In American)

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. Review: Praise for the original edition: 'The New Industrial State deserves the widest possible attention and discussion. -- Raymond J. Saulnier, New York Times Praise for the original edition: '[The New Industrial State] is a dazzling work, full of brilliant epigrams, intriguing aphorisms and sardonic humor. -- Harvey H. Segal, Washington Post Praise for the original edition: '[W]ithout a doubt one of the most provocative offerings of our time in the realm of economics. -- John McCutcheon, Chicago Tribune Table of Contents: General Editor's Introduction ix Foreword by James K. Galbraith xi Acknowledgments xxv Introduction to the Fourth Edition xxvii Chapter 1: Change and the Planning System 1 Chapter 2: The Imperatives of Technology 13 Chapter 3: The Nature of Industrial Planning 25 Chapter 4: Planning and the Supply of Capital 42 Chapter 5: Capital and Power 56 Chapter 6: The Technostructure 73 Chapter 7: The Corporation 89 Chapter 8: The Entrepreneur and the Technostructure 108 Chapter 9: A Digression on the Firm under Socialism 123 Chapter 10: The Approved Contradiction 138 Chapter 11: The General Theory of Motivation 162 Chapter 12: Motivation in Perspective 176 Chapter 13: Motivation and the Technostructure 186 Chapter 14: The Principle of Consistency 199 Chapter 15: The Goals of the Planning System 207 Chapter 16: Prices in the Planning System 223 Chapter 17: Prices in the Planning System (Continued) 235 Chapter 18: The Management of Specific Demand 245 Chapter 19: The Revised Sequence 263 Chapter 20: The Regulation of Aggregate Demand 273 Chapter 21: The Nature of Employment and Unemployment 289 Chapter 22: The Control of the Wage-Price Spiral 305 Chapter 23: The Planning System and the Union I 322 Chapter 24: The Planning System and the Union II 337 Chapter 25: The Educational and Scientific Estate 347 Chapter 26: The Planning System and the State I 365 Chapter 27: The Planning System and the State II 377 Chapter 28: A Further Summary 390 Chapter 29: The Planning System and the Arms Race 398 Chapter 30: The Further Dimensions 419 Chapter 31: The Planning Lacunae 432 Chapter 32: Of Toil 443 Chapter 33: Education and Emancipation 452 Chapter 34: The Political Lead 462 Chapter 35: The Future of the Planning System 473 An Addendum on Economic Method and the Nature of Social Argument 489 Index 503 Author Biography: John Kenneth Galbraith (1908-2006) was an eminent economist, the author of thirty-one books, and a member of four U.S. presidential administrations. He served as U.S. ambassador to India and president of the American Academy of Arts and Letters. At the time of his death, he was Paul M. Warburg Professor of Economics Emeritus at Harvard University.