The primary aspect of the "fraud" of the American economy that Galbraith (emeritus, economics, Harvard U.) criticizes is the false pretense of shareholder control over corporations, when in fact all real power has shifted to corporate managers. Contradicting conventional wisdom, or "approved belief" in his words, he denies the distinction between t
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The primary aspect of the "fraud" of the American economy that Galbraith (emeritus, economics, Harvard U.) criticizes is the false pretense of shareholder control over corporations, when in fact all real power has shifted to corporate managers. Contradicting conventional wisdom, or "approved belief" in his words, he denies the distinction between t
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Seller's Description:
Fine jacket. First edition (first printing). A fine copy in a fine dust jacket. John Kenneth Galbraith has long been at the center of American economics, in key positions of responsibility during the New Deal, World War II, and since, guiding policy and debate. His trenchant new book distills this lifetime of experience in the public and private sectors; it is a scathing critique of matters as they stand today. Sounding the alarm about the increasing gap between reality and "conventional wisdom"--a phrase he coined--Galbraith tells, along with much else, how we have reached a point where the private sector has unprecedented control over the public sector. We have given ourselves over to self-serving belief and "contrived nonsense" or, more simply, fraud. This has come at the expense of the economy, effective government, and the business world. Particularly noted is the central power of the corporation and the shift in authority from shareholders and board members to management. In an intense exercise of fraud, the pretense of shareholder power is still maintained, even with the immediate participants. In fact, because of the scale and complexity of the modern corporation, decisive power must go to management. From management and its own inevitable self-interest, power extends deeply into government--the so-called public sector. This is particularly and dangerously the case in such matters as military policy, the environment, and, needless to say, taxation. Nevertheless, there remains the firm reference to the public sector. How can fraud be innocent? In his inimitable style, Galbraith offers the answer. His taut, wry, and severe comment is essential reading for everyone who cares about America's future. This book is especially relevant in an election year, but it deeply concerns the much longer future.
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Fine in Fine jacket. Book. 8vo-over 7¾"-9¾" tall. "The world-renowned economist zeros in on economic belief, contrivance and political guidance today; the errors that continue; and where they are taking us." Black boards with gold-color lettering on spine, 62 pp., with jacket. Excellent condition.
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Seller's Description:
Fine in Fine jacket. Book. 8vo-over 7¾-9¾" tall. Hardcover in price-clipped dust jacket. Clean, tight and unmarked--a sound and handsome copy, virtually as new! xii, 62pp.