With searing wit and incisive commentary, John Kenneth Galbraith redefined America's perception of itself in The New Industrial State, one of his landmark works. The United States is no longer a free-enterprise society, Galbraith argues, but a structured state controlled by the largest companies. Advertising is the means by which these companies manage demand and create consumer "need" where none previously existed. Multinational corporations are the continuation of this power system on an international level. The goal of these companies is not the betterment of society, but immortality through an uninterrupted stream of earnings. First published in 1967, The New Industrial State continues to resonate today.

General Editor's Introduction ix
Foreword by James K. Galbraith xi
Acknowledgments xxv
Introduction to the Fourth Edition xxvii
Chapter 1: Change and the Planning System 1
Chapter 2: The Imperatives of Technology 13
Chapter 3: The Nature of Industrial Planning 25
Chapter 4: Planning and the Supply of Capital 42
Chapter 5: Capital and Power 56
Chapter 6: The Technostructure 73
Chapter 7: The Corporation 89
Chapter 8: The Entrepreneur and the Technostructure 108
Chapter 9: A Digression on the Firm under Socialism 123
Chapter 10: The Approved Contradiction 138
Chapter 11: The General Theory of Motivation 162
Chapter 12: Motivation in Perspective 176
Chapter 13: Motivation and the Technostructure 186
Chapter 14: The Principle of Consistency 199
Chapter 15: The Goals of the Planning System 207
Chapter 16: Prices in the Planning System 223
Chapter 17: Prices in the Planning System (Continued) 235
Chapter 18: The Management of Specific Demand 245
Chapter 19: The Revised Sequence 263
Chapter 20: The Regulation of Aggregate Demand 273
Chapter 21: The Nature of Employment and Unemployment 289
Chapter 22: The Control of the Wage-Price Spiral 305
Chapter 23: The Planning System and the Union I 322
Chapter 24: The Planning System and the Union II 337
Chapter 25: The Educational and Scientific Estate 347
Chapter 26: The Planning System and the State I 365
Chapter 27: The Planning System and the State II 377
Chapter 28: A Further Summary 390
Chapter 29: The Planning System and the Arms Race 398
Chapter 30: The Further Dimensions 419
Chapter 31: The Planning Lacunae 432
Chapter 32: Of Toil 443
Chapter 33: Education and Emancipation 452
Chapter 34: The Political Lead 462
Chapter 35: The Future of the Planning System 473
An Addendum on Economic Method and
the Nature of Social Argument 489
Index 503