Galbraith’s Economic Thinking

By Marlyse Pouchol

Galbraith describes a kind of outgrowth of the economy taking place through large corporations, which manage to impose their values on the entire society, from individuals to the State. He denounces an "official economic science" that does not take into account the real changes introduced by these "organizations" by assuming that they are governed by consumers, as small firms were and still are. Yet, the source and the nature of the power wielded by large corporations do not fit the Marxist analytical approach. To resist the influence of large corporations requires one to acknowledge that their power is based on the conditioning of individuals, which is so effective that authentic thinking has disappeared. The economic outgrowth born from the devaluation of thought that characterizes the model described by Galbraith can be compared to "Modern Man’s Condition" analyzed by Hannah Arendt.


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