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The service of the accepted image of economic life...

Submitted by Ken Watts on Thu, 11/12/2009 - 15:35

The service of the accepted image of economic life to the political needs of the business firm—the large corporation in particular—is, in fact, breathtaking. Broadly speaking, it removes from the corporation all power to do wrong and leaves with it only the power to do right.

Are its prices too high? The corporation is blameless. Prices are set by the market. Are profits unseemly? They too are determined by the market. Are products deficient in safety, durability, design, usefulness? They reflect the will of the sovereign consumer.

John Kenneth Galbraith