Resource allocation guided by corporate interests from "summary" of The New Industrial State by John Kenneth Galbraith
The allocation of resources within a modern industrial economy is a complex process that is heavily influenced by the interests of large corporations. These corporations, with their vast financial resources and market power, are able to shape the allocation of resources in ways that serve their own interests and goals. This often results in resources being directed towards activities that are profitable for these corporations, rather than those that may be more beneficial for society as a whole.
One of the key ways in which corporations influence resource allocation is through their control over investment decisions. Large corporations have the financial resources to invest in new technologies, research and development, and other activities that can help them maintain their competitive advantage in the market. By directing resources towards these activities, corporations can ensure that they remain at the forefront of their industries and continue to generate profits for their shareholders.
In addition to controlli...
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