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Most Helpful Customer Reviews
2 of 2 people found the following review helpful:
3.0 out of 5 stars
The New Industrial State,
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This review is from: The New Industrial State (Paperback)
Not being an economist, nor ever having studied the discipline for that matter, I do not feel qualified to write a critical review of this book. Rather, I review it as one who admires the author based on a televised interview several years ago. In this interview he was asked about his political affiliation. He artfully dodged the question by claiming to be what he called a "pragmatic rationalist" someone who favored what made sense and opposed what did not. I've always remembered that and have adopted the phrase myself on many occasions.This book is dated but has withstood a test of time to a degree. Galbraith writes of how stockholders do not really control major corporations and he is correct. Power lays in the hands of the senior management, a power that is taken for granted nowadays and abused by the more unscrupulous senior managers. The argument Galbraith puts forth, that the major corporations are the apex of our economic society, is solid though it does not take into account greed brought about by the degree of power senior management enjoys. Many of Galbraith's examples are far more entertaining than his conclusions. Had he redirected his evidence into something that informed rather than confused, my review would have been more positive. There will be those who refuse to acknowledge the depth of Galbraith?s intellect, and the book is in serious need of updating, but all in all it is a worthwhile read. Galbraith once said that the real value of economics is that it keeps economists employed. There are at least a dozen other witticisms interlaced throughout this book, and for this reason alone, it deserves attention. Other than that, the non-economist will probably find it rather disinteresting and dull.
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