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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