The Weakness of Thought

John Kenneth Galbraith wrote The New Industrial State in 1967, I read it in 1969, and Jamie Galbraith praises it Today. So do I. The elder Galbraith has suffered deterioration of reputation since his glory days, but One must realize he rode the Crest of economic thought from the 1940s through the 1970s with illustrious display. Later-day Economists have a tendency to dismiss his ideation as simple popularization of economic ideas, many of which were false. The trouble with this attitude comes in the contempt for Popular discrimination in Readership, and failure to truly dissect Galbraith’s assertions rigorously with adequate integration of the Thought.

The two most important influences of my economic studies were Galbraith and Jacques Ellul. Galbraith brought forth the understanding that Power structures could be effectively subverted, as they had been by the Managers of the Corporate structure; leading to an emasculation of the power of Stockholders and Customers. Ellul enlightened the real power of Propaganda, and by implication Advertising; in that both retained their effectiveness, even with Consumer awareness of it’s existence and effort. The Two also shed light on a more general theory of Power structures where Managers adopt a Management style which frees the Managers from real control of their legalistic Supervisors; consider common Corporate Board refusal to publish their record of Stock Options, Stock Grants, and Bonuses for Stockholders. This Last is a simple Statement that they can manipulate the financial status of their purported Ownership, without supervision or control exercised by the Owners.

One can talk about history repeating itself, but the more important aspect remains the study of effective control of the economic influences affecting One’s life. Recognize also that sone of the greatest criticisms of either Thinker origin in the very Practitioners which they reveal and condemn. One should also lend credence to the Statement One cannot be a Great Thinker without the existence of a Great Enemy to your own thesis. A Man is mortal, and will pass from the Scene without the ability of Self-defense; Enemies are made by Social strata and it’s Conventions, and replication will grant immortality to the Opposition, when and if a thesis holds true relevance. lgl