Read The Economics of Innocent Fraud: Truth for Our Time

The Economics of Innocent Fraud: Truth for Our Time

John Kenneth Galbraith

4.9/5 (31428 ratings)

Description:John Kenneth Galbraith has been immersed in economics for most of his long and remarkable life. The purpose of this extended essay is to illuminate examples of "innocent fraud" or the gulf between perception and reality in the modern American economic system--a system he had a hand in creating during his tenure in FDR's administration. Though tackling serious subjects, the book sparkles with wit and sly understatement. "A marked enjoyment can be found in identifying self-serving belief and contrived nonsense," he writes, clearly enjoying himself. The dominant role of the corporation in modern society is one such form of innocent fraud, and he explains how managers hold the real power in our system, not consumers or shareholders as the image would suggest. Despite the "appearance of relevance for owners," capitalism has given way to corporate bureaucracy--"a bureaucracy in control of its task and its compensation. Rewards that verge on larceny." He also explains how the public realm is effectively controlled by the private sector. The arms industry is but one example of this: "While the Pentagon is still billed as being of the public sector, few doubt the influence of corporate power in its decisions." He also looks at the financial world which "sustains a large, active, well-rewarded community based on compelled but seemingly sophisticated ignorance," and in particular the Federal Reserve System, "our most prestigious form of fraud, our most elegant escape from reality." In essence, Galbraith says that the Fed, for all of its power and prestige, effectively does nothing. And he has little problem with this: "Let their ineffective role be accepted and forgiven." Both a guide to the present and an aid to shaping the future, this slim, satisfying book is a font of wisdom, conventional and otherwise, from a respected elder statesman in the twilight of his life. --Shawn CarkonenWe have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with The Economics of Innocent Fraud: Truth for Our Time. To get started finding The Economics of Innocent Fraud: Truth for Our Time, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Pages: 62

Format: PDF, EPUB & Kindle Edition

Publisher: —

Release: —

ISBN: 0618013245

Description: John Kenneth Galbraith has been immersed in economics for most of his long and remarkable life. The purpose of this extended essay is to illuminate examples of "innocent fraud" or the gulf between perception and reality in the modern American economic system--a system he had a hand in creating during his tenure in FDR's administration. Though tackling serious subjects, the book sparkles with wit and sly understatement. "A marked enjoyment can be found in identifying self-serving belief and contrived nonsense," he writes, clearly enjoying himself. The dominant role of the corporation in modern society is one such form of innocent fraud, and he explains how managers hold the real power in our system, not consumers or shareholders as the image would suggest. Despite the "appearance of relevance for owners," capitalism has given way to corporate bureaucracy--"a bureaucracy in control of its task and its compensation. Rewards that verge on larceny." He also explains how the public realm is effectively controlled by the private sector. The arms industry is but one example of this: "While the Pentagon is still billed as being of the public sector, few doubt the influence of corporate power in its decisions." He also looks at the financial world which "sustains a large, active, well-rewarded community based on compelled but seemingly sophisticated ignorance," and in particular the Federal Reserve System, "our most prestigious form of fraud, our most elegant escape from reality." In essence, Galbraith says that the Fed, for all of its power and prestige, effectively does nothing. And he has little problem with this: "Let their ineffective role be accepted and forgiven." Both a guide to the present and an aid to shaping the future, this slim, satisfying book is a font of wisdom, conventional and otherwise, from a respected elder statesman in the twilight of his life. --Shawn CarkonenWe have made it easy for you to find a PDF Ebooks without any digging. And by having access to our ebooks online or by storing it on your computer, you have convenient answers with The Economics of Innocent Fraud: Truth for Our Time. To get started finding The Economics of Innocent Fraud: Truth for Our Time, you are right to find our website which has a comprehensive collection of manuals listed.
Our library is the biggest of these that have literally hundreds of thousands of different products represented.

Special Offer | $0.00

Special Offer! | $0.00

The Economics of Innocent Fraud: Truth for Our Time

The Economics of Innocent Fraud: Truth for Our Time

More Books

John Kenneth Galbraith: His Life, His Politics, His Economics

John Kenneth Galbraith: His Life, His Politics, His Economics

John Kenneth Galbraith (Great Thinkers in Economics)

John Kenneth Galbraith (Great Thinkers in Economics)

The Affluent Society

The Affluent Society

Interviews with John Kenneth Galbraith (Conversations with Public Intellectuals)

Interviews with John Kenneth Galbraith (Conversations with Public Intellectuals)

The Great Crash 1929

The Great Crash 1929

The Selected Letters of John Kenneth Galbraith

The Selected Letters of John Kenneth Galbraith

The Galbraith Reader: From the Works of John Kenneth Galbraith

The Galbraith Reader: From the Works of John Kenneth Galbraith

A Short History of Financial Euphoria

A Short History of Financial Euphoria

John Kenneth Galbraith Introduces India

John Kenneth Galbraith Introduces India