The New Industrial State
The James Madison Library in American Politics
Galbraith's account of the mature corporation and the technostructure that runs it, in the Princeton edition with a foreword by James K. Galbraith.
Galbraith argued in 1967 that the large corporation had outgrown the market that economics still described: prices were administered, demand was managed by advertising, and power sat with the technostructure of managers and specialists rather than with shareholders or consumers. The middle volume of his trilogy, and the one that most annoyed the profession.
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Robert Reich
If anything, Galbraith’s book was a warning about that technostructure. The United States, and by inference all nations practising democratic capitalism, had to be careful to make sure that we understood what the technostructure was doing and why it was doing it and how it was trying to influence all of us. Galbraith understood 20th century consumerism probably better than anyone.
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