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PENGUIN BOOKS LTD, 2005. Paperback. Good. Pages can have notes/highlighting. Spine may show signs of wear. ~ ThriftBooks: Read More, Spend Less.Dust jacket quality is not guaranteed.
The Economics of Innocent Fraud by John Kenneth Galbraith - May 2005
by John Kenneth Galbraith
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The Economics of Innocent Fraud
by John Kenneth Galbraith
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Penguin Books Ltd, May 2005. Paperback. 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. Although it tackles serious subjects, the book sparkles with wit and sly understatement.\nThe 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 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." Galbraith 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."\nBoth 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 Carkonen, "
- Bookseller Independent bookstores (IE)
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- ISBN 10 0141023015
- ISBN 13 9780141023014
- Publisher Penguin Books Ltd
- Date Published May 2005
- Keywords Economic theory & philosophy, Business & Economics / Economics / Theory, Economics, Economics: Professional & General
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The Economics of Innocent Fraud (Pocket Penguins)
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The Economics of Innocent Fraud (Pocket Penguins)
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The Economics of Innocent Fraud (Pocket Penguins)
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THE ECONOMICS OF INNOCENT FRAUD (POCKET PENGUINS)
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.: Penguin Books Ltd, 2005. Please email us if you would like further information or if you would like us to send you a picture of the book. The book i am offering may not have the same cover as the one pictured. they are stock photos from the site. Thanks for looking! . Mass Market Paperback. Very Good +. 16mo - over 5¾" - 6¾" tall.
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The Economics of Innocent Fraud (Pocket Penguins)
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Penguin Books Ltd. Paperback. Used; Good. Simply Brit welcome to our online used book store, where affordability meets great quality. Dive into a world of captivating reads without breaking the bank. We take pride in offering a wide selection of used books, from classics to hidden gems, ensuring theres something for every literary palate. All orders are shipped within 24 hours and our lightning fast-delivery within 48 hours coupled with our prompt customer service ensures a smooth journey from ordering to delivery. Discover the joy of reading with us, your trusted source for affordable books that do not compromise on quality. 05/06/2005
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The Economics of Innocent Fraud (Pocket Penguins)
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