The New Industrial State or Big Lies

The New Industrial State

Author: John Kenneth Galbraith

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.

Table of Contents:

General Editor's Introduction     ix
Foreword   James K. Galbraith     xi
Acknowledgments     xxv
Introduction to the Fourth Edition     xxvii
Change and the Planning System     1
The Imperatives of Technology     13
The Nature of Industrial Planning     25
Planning and the Supply of Capital     42
Capital and Power     56
The Technostructure     73
The Corporation     89
The Entrepreneur and the Technostructure     108
A Digression on the Firm under Socialism     123
The Approved Contradiction     138
The General Theory of Motivation     162
Motivation in Perspective     176
Motivation and the Technostructure     186
The Principle of Consistency     199
The Goals of the Planning System     207
Prices in the Planning System     223
Prices in the Planning System (Continued)     235
The Management of Specific Demand     245
The Revised Sequence     263
The Regulation of Aggregate Demand     273
The Nature of Employment and Unemployment     289
The Control of the Wage-Price Spiral     305
The Planning System and the Union I     322
The Planning System and the Union II     337
The Educational and Scientific Estate     347
The Planning System and the State I     365
The Planning System and the State II     377
A Further Summary     390
The Planning System and the Arms Race     398
The Further Dimensions     419
The Planning Lacunae     432
Of Toil     443
Education and Emancipation     452
The Political Lead     462
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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