American Capitalism: The Concepts of Countervailing Power (1952)

American Capitalism: The Concepts of Countervailing Power is a book written by John Kenneth Galbraith and published in 1952. The book explores the concept of countervailing power, which refers to the ability of different groups in society to balance the power of large corporations and prevent them from becoming too dominant. Galbraith argues that countervailing power is essential for maintaining a healthy capitalist economy, as it ensures that the interests of all groups in society are represented and protected. He examines the historical development of countervailing power in the United States, from the labor movement and the rise of consumer advocacy groups to the role of government regulation and antitrust laws.The book also discusses the challenges faced by countervailing power in the modern era, particularly in the face of globalization and the increasing power of multinational corporations. Galbraith argues that new forms of countervailing power must be developed to address these challenges, and he proposes several potential solutions.Overall, American Capitalism: The Concepts of Countervailing Power is a seminal work in the field of economics and a powerful critique of the unbridled power of large corporations in modern society.This scarce antiquarian book is a facsimile reprint of the old original and may contain some imperfections such as library marks and notations. Because we believe this work is culturally important, we have made it available as part of our commitment for protecting, preserving, and promoting the world's literature in affordable, high quality, modern editions, that are true to their original work.