galbraith-exposes-the-curse-of-the-modern-company

Galbraith exposes the curse of the modern company

In his latest book The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too, James K. Galbraith takes a look at the modern company and its leaders and how they ended up where they are now.

By Dan Slater

December 17, 2008

James K. Galbraith, son of the famous economist John Kenneth Galbraith, has written a fine book about the nature of American capitalism. Given the sickness which is festering in the nexus between the White House, Wall Street, Silicon Valley and the corporate sector, it is a timely and useful analysis of what has gone wrong.

My favourite chapter in The Predator State How Conservatives Abandoned the Free Market and Why Liberals Should Too examines the role of the modern company, elements of which Galbraith believes have hijacked the US government. Crucially, the modern firm is very different to the monolithic, IBM-like entities which dominated the landscape prior to the Reagan revolution of the 1980s....

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