Economic Balance and Countervailing Power

Abstract

This chapter examines Galbraith’s work in the early 1950s. The books in question are a far cry from the integrated model of late democratic capitalism, the Galbraithian System, which emerges in the trilogy The Affluent Society, The New Industrial State, and Economics and the Public Purpose. But the Galbraithian vision begins to take shape in these early books, in which we can detect the concerns for inflation and the bifurcated economic power structure.