The New Industrial State / Edition 1

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Overview

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.

Galbraith's new introduction assesses the changes in economic thought over the last two decades and the continued relevance of his now classic book.

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Editorial Reviews

New York Times
Praise for the original edition: The New Industrial State deserves the widest possible attention and discussion.
— Raymond J. Saulnier
Washington Post
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
Chicago Tribune
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
New York Times - Raymond J. Saulnier
Praise for the original edition: The New Industrial State deserves the widest possible attention and discussion.
Washington Post - Harvey H. Segal
Praise for the original edition: [The New Industrial State] is a dazzling work, full of brilliant epigrams, intriguing aphorisms and sardonic humor.
Chicago Tribune - John McCutcheon
Praise for the original edition: [W]ithout a doubt one of the most provocative offerings of our time in the realm of economics.
From the Publisher

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

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Product Details

  • ISBN-13: 9780691131412
  • Publisher: Princeton University Press
  • Publication date: 4/9/2007
  • Series: James Madison Library in American Politics Series
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 576
  • Sales rank: 646,953
  • Product dimensions: 4.80 (w) x 7.80 (h) x 1.60 (d)

Meet the Author

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.

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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
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