Updating The Technostructure: A Sketch Of Galbraith's Institutionalism With A Financial Sector
by Philip Pilkington
Article of the Week from Fixing the Economists (from 2013)
I’m currently rereading The New Industrial State by John Kenneth Galbriath. It is a very rewarding book and, despite what some have said, I do not see it as being at all outdated. I think it translates perfectly well to our contemporary world with the key difference that where Galbraith laid out what he called the ‘planning system’ – that is, corporate monopolies/oligopolies – and the ‘market system’ – that is, some primary producers – we now need to add a third sector: the ‘financial system’.
Source: http://econintersect.com/pages/analysis/analysis.php?post=201911210325
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