The sarcastic and brilliant J.K. Galbraith, in spite of his unsupported assertions in economics, made keen social psychological observations. He undermined the relevancy of socialism, arguing that, in the face of “countervailing powers” which moved capitalism away from the considered form of its critique, socialism did away with itself as a viable alternative. Galbraith did not see profit as the central motive for the corporation, but power, which unified the corporations within one “technostructure”, not as competition, but as part of the same club. Ironically, in spite of the centrality of power to his theory, he maintained his Keynesian position while suggesting that the economic systems between America and the Soviet Union were comparable, advocating for centralized planning in order to quell individual desires he correctly saw as corruptible as though by our Original Sin.
Notes on Galbraith and a Free Society
Notes on Galbraith and a Free Society
Notes on Galbraith and a Free Society
The sarcastic and brilliant J.K. Galbraith, in spite of his unsupported assertions in economics, made keen social psychological observations. He undermined the relevancy of socialism, arguing that, in the face of “countervailing powers” which moved capitalism away from the considered form of its critique, socialism did away with itself as a viable alternative. Galbraith did not see profit as the central motive for the corporation, but power, which unified the corporations within one “technostructure”, not as competition, but as part of the same club. Ironically, in spite of the centrality of power to his theory, he maintained his Keynesian position while suggesting that the economic systems between America and the Soviet Union were comparable, advocating for centralized planning in order to quell individual desires he correctly saw as corruptible as though by our Original Sin.