Summary of The New Industrial State

The New Industrial State is a book written by John Kenneth Galbraith that examines the powerful economic and political influence held by large corporations and the implications this holds for prosperity and democracy. Galbraith argues that modern corporations have become increasingly bureaucratic and have outsized influence over economic activity, government policy, and even public opinion. He claims that such influence is bad for the welfare of society and that it must be addressed and restrained for democracy to truly thrive. He proposes a variety of policy solutions such as revising anti-trust laws, restoring public control over resources, and more strongly regulating corporate activity.