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It’s the Iron Collar of the Corporate State Until the People Collar the Congress

Back in the mid-nineteen-fifties, the prolific, progressive political economist, Harvard’s John Kenneth Galbraith, developed his “theory of countervailing powers.” He asserted as big business got bigger, its overreach would be constrained by strong lab…

Back in the mid-nineteen-fifties, the prolific, progressive political economist, Harvard’s John Kenneth Galbraith, developed his “theory of countervailing powers.” He asserted as big business got bigger, its overreach would be constrained by strong labor unions, regulators, and antitrust enforcement. Inside the realm of large companies, big retail chains could check the power of large manufacturers. More

The post It’s the Iron Collar of the Corporate State Until the People Collar the Congress appeared first on CounterPunch.org.


This content originally appeared on CounterPunch.org and was authored by Ralph Nader.


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