American Capitalism: The Concept of Countervailing Power

American Capitalism The Concept of Countervailing Power In his new introduction to this classic text on political economy Galbraith reasserts the validity of the core thesis of American Capitalism The best and established answer to economic power is the b

  • Title: American Capitalism: The Concept of Countervailing Power
  • Author: John Kenneth Galbraith
  • ISBN: 9781560006749
  • Page: 151
  • Format: Paperback
  • In his new introduction to this classic text on political economy, Galbraith reasserts the validity of the core thesis of American Capitalism The best and established answer to economic power is the building of countervailing power The trade union remains an equalizing force in the labor markets, and the chain store is the best answer to the market power of big food compIn his new introduction to this classic text on political economy, Galbraith reasserts the validity of the core thesis of American Capitalism The best and established answer to economic power is the building of countervailing power The trade union remains an equalizing force in the labor markets, and the chain store is the best answer to the market power of big food companies This work remains an essential guidepost of American s as well as that as of the American economy.

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    One thought on “American Capitalism: The Concept of Countervailing Power”

    1. Writing in 1952, Galbraith argues that the prior 20 years (the great depression and Ameria's WW2-driven recovery) proves that we must reconsider a fundamental economic assumption. Namely, that perfect competition does not exist in the US economy, and that there is enough consolidation of businesses in most industries that companies do indeed have control over prices. This in turn limits optimal market efficiency, and "is different only in degree and precision" of a single-firm monopoly. Galbrait [...]

    2. I read this along with several other Galbraith books for the Capitalism, Democracy, Socialism class taught under the Philosophy Department at Loyola University Chicago during the first semester of 1981/82. It is one of Galbraith's weaker texts, and one of his earliest, being effectively the first volume of a series including The New Industrial State and Economics and the Public Purpose.

    3. Galbraith's criticisms are valid and eloquent, but his solutions are broad and largely undefined. The text is certainly an interesting read for anyone who feels discontented with American Capitalism, but don't expect anything radically new or invigorating.

    4. Un libro fundamental para entender las transformaciones de la economía de Estados Unidos de la gran depresión a los años de la posguerra. en una postura fundamentalmente Keynesiana se critica la postura del capitalismo clásico y su modelo competitivo y como el Keynesianismo salvo pese a las criticas de los grupos conservadores el sistema económico en Estados Unidos.El libro resulta una lectura muy interesante pues se pueden encontrar símiles con la estructura de economías como la nuestra [...]

    5. I don't agree with him, but he is an important American economist (Canadian born, but spent most of his life in the U.S.), and this is one of his two classics.

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