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　　John Kenneth Galbraith has long been at the center of American

economics, in key positions of responsibility during the New Deal,

World War II, and since, guiding policy and debate. His trenchant

new book distills this lifetime of experience in the public and

private sectors; it is a scathing critique of matters as they stand

today. Sounding the alarm about the increasing gap between reality

and "conventional wisdom" -- a phrase he coined -- Galbraith tells,

along with much else, how we have reached a point where the private

sector has unprecedented control over the public sector. We have

given ourselves over to self-serving belief and "contrived

nonsense" or, more simply, fraud. This has come at the expense of

the economy, effective government, and the business world.

Particularly noted is the central power of the corporation and the

shift in authority from shareholders and board members to

management. In an intense exercise of fraud, the pretense of

shareholder power is still maintained, even with the immediate

participants. In fact, because of the scale and complexity of the

modern corporation, decisive power must go to management. From

management and its own inevitable self-interest, power extends

deeply into government -- the so-called public sector. This is

particularly and dangerously the case in such matters as military

policy, the environment, and, needless to say, taxation.

Nevertheless, there remains the firm reference to the public

sector. How can fraud be innocent? In his inimitable style,

Galbraith offers the answer. His taut, wry, and severe comment is

essential reading for everyone who cares about America's future.

This book is especially relevant in an election year, but it deeply

concerns the much longer future.

Introduction and a Personal Note

The Nature of Innocent Fraud

The Renaming of the System

The Economics of Accommodation

The Specious World of Work

The Corporation as Bureaucracy,

The Corporate Power

The Myth of the Two Sectors

The World of Finance

The Elegant Escape from Reality

The End to Corporate Innocence

Foreign and Military Policy

The Last Word

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编辑推荐

　　Galbraith looks at today's economy and America's military

actions in Iraq and contends that we observe the current state of

the nation in a cloud of myth, believing that stockholders and

owners run our corporate world.

书籍介绍

The primary aspect of the "fraud" of the American economy that Galbraith (emeritus, economics, Harvard U.) criticizes is the false pretense of shareholder control over corporations, when in fact all real power has shifted to corporate managers. Contradicting conventional wisdom, or "approved belief" in his words, he denies the distinction between t