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John Kenneth Galbraith

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The myth that holds that the great corporation is the puppet of the market, the powerless servant of the consumer, is, in fact one of the devices by which its power is perpetuated.
--
Chapter 9, p. 258

 
John Kenneth Galbraith

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This is what economics now does. It tells the young and susceptible (and also the old and vulnerable) that economic life has no content of power and politics because the firm is safely subordinate to the market and the state and for this reason it is safely at the command of the consumer and citizen. Such an economics is not neutral. It is the influential and invaluable ally of those whose exercise of power depends on an acquiescent public. If the state is the executive committee of the great corporation and the planning system, it is partly because neoclassical economics is its instrument for neutralizing the suspicion that this is so.

 
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You know the stripper myth? There's a stripper myth, that's being perpetuated throughout society. The myth is, I'm strippin' to pay my tuition. No you're not! There's no strippers in college! There's no clear heels in biology! Shit, man. I didn't know they had a college that only took one-dollar bills. And if they got so many strippers at college, how come I never got a smart lap dance? I never got a girl that sat on my lap and said, If I was you, I would diversify my portfolio. You know, ever since the end of the Cold War, I find NATO obsolete!.

 
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I would never do something with just puppets. . . But I like the things puppets allow you to do. I had this puppet Dinah Donewell, and she had this hand puppet named Mr. Pleaser. He was her lap dog who was constantly under her skirt. Now if you did that with actors, people would be offended. But in this case, so what? It was a puppet with a puppet.

 
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The corporation's legally defined mandate s to pursue, relentlessly and without exception, its own self interest, regardless of the often harmful consequences it might cause to others. As a result, I argue, the corporation is a pathological institution, a dangerous possessor of the great power it wields over people and societies.

 
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We need to confront honestly the issue of scale. Bigness has a charm and a drama that are seductive, especially to politicians and financiers; but bigness promotes greed, indifference, and damage, and often bigness is not necessary. You may need a large corporation to run an airline or to manufacture cars, but you don't need a large corporation to raise a chicken or a hog. You don't need a large corporation to process local food or local timber and market it locally.

 
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