Social Reform and Economic Policy

Abstract

The Galbraithian System seeks to clarify the complex matter of social and economic reform in late capitalism. Much of the focus rests upon the social predicament of turning the vast influence of the mature corporation and its administered sector of the economy to the human, public purpose. This effort runs aground upon the twin shoals of the crisis of the state and the sway of the conventional wisdom. The extent of mandated collective action is increasing amidst a widespread discontent not only with the prevalent forms of collective action but also with collective action in principle. This discontent is rooted in an intellectual confusion that obscures both the nature of the social predicament and the character of its resolution.

The next step toward perpetual prosperity is the provision of a basis for the coordination of firm plans, particularly in key industries, to assure a rough equality between industry capacity and industry demand.

(R.T. Averitt, 1968)

We now affirm that that direction is forward which provides for the continuity of human life and the noninvidious re-creation of community through the instrumental use of knowledge.

(M.R. Tool, 1979)