by John Kenneth Galbraith

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A re-examination of current economic stresses and strains, this cuts away the deadwood of obsolete economic theories, presents the picture in the light of modern developments. Instead of the psychosis of depression, induced by the belief that private American Capitalism is unstable, that competition has withered to impotence, and that we all walk on the bridge of socialism that leads to the police state, Mr. Galbraith presents the theory of ""countervailing power""- strong buyers against weak sellers, labor unions against great corporations, etc. etc. An important new theory that is a clear and perhaps possible explanation of the modern capitalistic system, for the professional economist rather than the layman who will find it difficult reading.

Publisher: Houghton, Mifflin