The New Industrial State

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.

In his memoirs, John Kenneth Galbraith recalls amusingly, even brilliantly, the important and low moments in his life, the men and women he met who were great, only interesting, entertaining or even absurd. Galbraith studied agriculture in his native Canada and agricultural economics at UC-Berkeley. He taught at the University of California, served briefly in FDR’s administration and went on to Harvard. In Cambridge, England, he discovered the new economics of John Maynard Keynes. During World War II in Washington, he held the key job of organizing and administering the system of wartime price controls. After the war, Galbraith directed the survey that interrogated former Nazi leaders to assess the effects of the air war on the German economy. He then worked for the State Department as administrator for economic affairs in the occupied countries and served as an editor of Fortune when the magazine employed some of the best writers around. Galbraith returned to Harvard in 1948 and wrote three of the most influential books on economics of his time, The Affluent Society, The New Industrial State and Economics and the Public Purpose. In these lively memoirs, the author relates all of this and more — his two major political campaigns, with Adlai E. Stevenson for whom he was adviser and speech-writer, and John F. Kennedy, for whom he campaigned across the country; his years as ambassador in India; and his long opposition to the Vietnam war. And he shares the lessons learned from these experiences. “On every subject Mr. Galbraith is succinct and witty... The book is full of strong opinion and proceeds by the vehicle of anecdote... The serious business of the book... is to trace the steps of its author’s astonishingly varied and useful life... Mr. Galbraith’s vigor of expression, as well as an account of a period of gloom and psychotherapy, prevents the writing from ever sounding impersonal. That serious business is also to set the record straight — on what his books were about and how he evolved his theory of The Affluent Society and The New Industrial State, as two of his most important works were named; on why the bombing of Germany during World War II was less than useless, why it was patently unnecessary to wage atomic warfare on Japan and why he came to be a dissenter on the war in Vietnam. On inflation. On the ‘secular priesthood’ that once presided at the State Department. And, enchantingly, on such movers and shakers he came to know well as the New Dealer Leon Henderson, Paul Baran (‘the most interesting economist I have ever known’), Bernard M. Baruch, Adlai E. Stevenson, John F. Kennedy and Lyndon B. Johnson.” — Christopher Lehmann-Haupt, The New York Times “As a raconteur and a literary stylist, [Galbraith] stands with the best... As entertainment, the book is a total success. Its charm comes from the combination of Mr. Galbraith’s smooth comic timing and his not always charitable wit.” — James Fallows, The New York Times “Galbraith ranks with the most entertaining and provocative political writers in America in this century... Without Galbraith the political literature of our time would be far drearier.” — Gaddis Smith, Foreign Affairs “[Galbraith] has assembled a well-nigh complete record of what he has been up to, professionally at least, since leaving his family’s Ontario farm. The account is fascinating... The narrative... consistently holds the distinctive Galbraith style that makes all his books read like a nippy breeze.” — Geoffrey Colvin, Christian Science Monitor “Absorbing and irresistible.” — The New Yorker “An enjoyable book, full of fun, full of wisdom, and full of rare insights into the history of our times.” — The New Republic “A delightfully teeming book... Galbraith’s comic voice is a distinctive and durable literary achievement.” — Atlantic Monthly “A highly perceptive commentary on all our yesterdays... anecdotal, amusing, animated and above all, illuminating.” — John Barkham Reviews

A progressive economist challenges popular conservative-minded economic practices, in a scathing critique of Reagan-Bush policies that contends that the political right is misrepresenting the consequences of free-market and free-trade ideals. 50,000 first printing.

World-renowned economist Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, explains that we have an opportunity to shape the fourth industrial revolu­tion, which will fundamentally alter how we live and work. Schwab argues that this revolution is different in scale, scope and complexity from any that have come before. Characterized by a range of new technologies that are fusing the physical, digital and biological worlds, the developments are affecting all disciplines, economies, industries and governments, and even challenging ideas about what it means to be human. Artificial intelligence is already all around us, from supercomputers, drones and virtual assistants to 3D printing, DNA sequencing, smart thermostats, wear­able sensors and microchips smaller than a grain of sand. But this is just the beginning: nanomaterials 200 times stronger than steel and a million times thinner than a strand of hair and the first transplant of a 3D printed liver are already in development. Imagine “smart factories” in which global systems of manu­facturing are coordinated virtually, or implantable mobile phones made of biosynthetic materials. The fourth industrial revolution, says Schwab, is more significant, and its ramifications more profound, than in any prior period of human history. He outlines the key technologies driving this revolution and discusses the major impacts expected on government, business, civil society and individu­als. Schwab also offers bold ideas on how to harness these changes and shape a better future—one in which technology empowers people rather than replaces them; progress serves society rather than disrupts it; and in which innovators respect moral and ethical boundaries rather than cross them. We all have the opportunity to contribute to developing new frame­works that advance progress.

Galbraith's classic on the "economics of abundance" is, in the words of the New York Times, "a compelling challenge to conventional thought." With customary clarity, eloquence, and humor, Galbraith cuts to the heart of what economic security means (and doesn't mean) in today's world and lays bare the hazards of individual and societal complacence about economic inequity. While "affluent society" and "conventional wisdom" (first used in this book) have entered the vernacular, the message of the book has not been so widely embraced--reason enough to rediscover The Affluent Society. Copyright © Libri GmbH. All rights reserved.

The life and times of America's celebrated economist, assessing his lessons-and warnings-for us today. John Kenneth Galbraith's books—among them The Affluent Society and American Capitalism—are famous for good reason. Written by a scholar renowned for energetic political engagement and irrepressible wit, they are models of provocative good sense that warn prophetically of the dangers of deregulated markets, war in Asia, corporate greed, and stock-market bubbles. Galbraith's work has also deeply-and controversially-influenced his own profession, and in Richard Parker's hands his biography becomes a vital reinterpretation of American economics and public policy. Born and raised on a small Canadian farm, Galbraith began teaching at Harvard during the Depression. He was FDR's "price czar" during the war and then a senior editor of Fortune before returning to Harvard and to fame as a bestselling writer. Parker shows how, from his early championing of Keynes to his acerbic analysis of America's "private wealth and public squalor," Galbraith regularly challenged prevailing theories and policies. And his account of Galbraith's remarkable friendship with John F. Kennedy, whom he served as a close advisor while ambassador to India, is especially relevant for its analysis of the intense, dynamic debates that economists and politicians can have over how America should manage its wealth and power. This masterful chronicle gives color, depth, and meaning to the record of an extraordinary life.

The world has become increasingly separated into the haves and have-nots. In The Culture of Contentment, renowned economist John Kenneth Galbraith shows how a contented class—not the privileged few but the socially and economically advantaged majority—defend their comfortable status at a cost. Middle-class voting against regulation and increased taxation that would remedy pressing social ills has created a culture of immediate gratification, leading to complacency and hampering long-term progress. Only economic disaster, military action, or the eruption of an angry underclass seem capable of changing the status quo. A groundbreaking critique, The Culture of Contentment shows how the complacent majority captures the political process and determines economic policy.

The legendary economist explains how a nation can remain both compassionate and fiscally sound, with “common sense raised to the level of genius” (The New Yorker). This compact, eloquent book offers a blueprint for a workable national agenda that allows for human weakness without compromising a humane culture. Arguing that it is in the best interest of the United States to avoid excessive wealth and income inequality, and to safeguard the well-being of its citizens, he explores how the goal of a good society can be achieved in an economically feasible way. Touching on topics from regulation, inflation, and deficits to education, the environment, bureaucracy, and the military, Galbraith avoids purely partisan or rigid ideological politics—instead addressing practical problems with logic and well-thought-out principles. “Carefully reasoned . . . the pragmatically liberal Galbraith [argues] that both socialism and complete surrender to market forces are irrelevant as guides to public action.” —Publishers Weekly