The New Industrial State (James Madison Library in American Politics): 2 (The James Madison Library in American Politics) Paperback – 1 May 2007

This 1967 book by the American Keynsian economist JK Galbraith is an extremely acute dissection of the post-World War II economic structure of Western countries. In it, he shows that the imperatives of finance (such are the scales of the large corporations) and technology (so complex are new products) make the private sector as liable to "planning" as the Soviet regimes, before the Berlin Wall came down. The difference is that where the Soviet system was top-down, the Western system manages demand through advertising, promotions, synergy and focus groups. (Think of when a blockbuster film is released - its toys are availble at McDonalds, its computer games reinfrce the message, media outlets exchange access for favourable notices - even for a film as bad as "Godzilla" - or new products are hyped to the "savvy" then filter down through the levels of fashionability).Galbraith also introduces the notion of the "technostructure", the level of society which is in charge of the technical aspects of the products it creates and sells, saying that this stratum is now the most important level of society, rather than CEOs whom he says are more like shiny representatives than wielding supreme power. He also demonstrates the ways in which groups within organisation strive for their goals over other groups.While this book is fascinating, extremely acute, pertinent and enjoyably well-written, it does have a certain pre-1973 flavour. Thus, some of its macro-economic assumptions (such as the management of demand, maintaining full employment etc) are somewhat out of date, after Reagan and Thatcher. However I would guess that following the economic crash of 2008, these assumptions will become fashionable once again.Galbraith was one of the very few people to be awarded the Presidential Medal of Freedom twice, such was his towering influence upon American letters and politics (he served in four administrations and wrote over four dozen books). This book is probably his best, and certainly one of his most important.

This isn't just another rant about the evils of the corporations. It's a very cool and sharp analysis that's worth buying, reading, and re-reading just for the chapter on the imperatives of technology.

If only the present Federal Reserve Chairman as well as the past and Furture Chairpersons could read and understand this book, the economic turmoils could be muted. This is the primer for all who engage in managing the ship of state. Withouth this knowledge only the cycles of collapse will endure.

Whether you agree with his political views or not, John K. Galbraith is always a pleasure to read. If you are interested in "economic philosophy", you cannot go wrong with any of his books.

The book arrived in excellent condition. Thank you!

The order was placed at the same time as another book which arrived 2 weeks quicker despite being shipped at the same time. More effort might have been made to keep me informed. Other than that the book arrived it was in good condition and was what I wanted.

I like his ideas about the excesses of capitalism and the war industry. If he were around today I bet he would be writing about ways to create socially responsible corporations.