In May 2005 Penguin will publish 70 unique titles to celebrate the company's 70th birthday. The titles in the Pocket Penguins series are emblematic of the renowned breadth of quality of the Penguin list and will hark back to Penguin founder Allen Lane's vision of good books for all'. A lifelong critic of unbridled corporate power and the most widely read economist of the twentieth century, the admired Harvard professor J. K. Galbraith has been published by Penguin for more than forty years. His latest book The Economics of Innocent Fraud is a vigorous polemic that reveals the private sector's control over public life in today's society, and considers our increasing tendency to blindly accept legal, legitimate, innocent' fraud.
"synopsis" may belong to another edition of this title.
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.
The 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."
Both 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, Amazon.comReview:
"This brief treatise is a well-written, logical argument about the state of the economy." Publishers Weekly
"About this title" may belong to another edition of this title.
Book Description Paperback. Book Condition: Very Good. Product dispatched in UK within 48 hours. Thanks. Bookseller Inventory # PI03D01VB5795
Book Description Penguin Books Ltd, 2005. Paperback. Book Condition: Good. Good condition is defined as: a copy that has been read but remains in clean condition. All of the pages are intact and the cover is intact and the spine may show signs of wear. The book may have minor markings which are not specifically mentioned. Most items will be dispatched the same or the next working day. Bookseller Inventory # mon0004179375
Book Description Penguin Books Ltd, 2005. Paperback. Book Condition: Very Good. Very Good: a copy that has been read, but is in excellent condition. Pages are intact and not marred by notes or highlighting. The spine remains undamaged. Most items will be dispatched the same or the next working day. Bookseller Inventory # mon0004209006
Book Description Penguin Books Ltd, 2005. Paperback. Book Condition: Good. All orders are dispatched the following working day from our UK warehouse. Established in 2004, we have over 500,000 books in stock. No quibble refund if not completely satisfied. Bookseller Inventory # mon0001321124
Book Description PENGUIN BOOKS LTD. Paperback. Book Condition: Fair. Bookseller Inventory # G0141023015I5N00
Book Description PENGUIN BOOKS LTD. Paperback. Book Condition: Good. Book shows minor use. Cover and Binding have minimal wear, and the pages have only minimal creases. Bookseller Inventory # G0141023015I3N00
Book Description Penguin Books Ltd, 2005. Paperback. Book Condition: Very Good. The Economics of Innocent Fraud (Pocket Penguins) This book is in very good condition and will be shipped within 24 hours of ordering. The cover may have some limited signs of wear but the pages are clean, intact and the spine remains undamaged. This book has clearly been well maintained and looked after thus far. Money back guarantee if you are not satisfied. See all our books here, order more than 1 book and get discounted shipping. . Bookseller Inventory # 7719-9780141023014
Book Description Penguin Books Ltd, 2005. Paperback. Book Condition: Good. The Economics of Innocent Fraud (Pocket Penguins) This book is in good or better condition. It has no tears to the pages and no pages will be missing from the book. The spine of the book is still in great condition and the front cover is generally unmarked. It has signs of previous use but overall is in really nice, tight condition. Shipping is normally same day from our UK warehouse. We offer a money back guarantee if you are not satisfied. Bookseller Inventory # 9053-9780141023014
Book Description Penguin Books Ltd, 2005. Paperback. Book Condition: Used; Good. Bookseller Inventory # 966106
Book Description Penguin Books Ltd 06/05/2005, 2005. Book Condition: Good. Will be shipped promptly from UK warehouse. Book is in good condition with no missing pages, no damage or soiling and tight spine. There may be some dog-eared pages showing previous use but overall a great book. Bookseller Inventory # 9053-9780141023014