Countervailing power: Difference between revisions
Content deleted Content added
{{economy-stub}} |
m unref; countervailence theory is about much more than just JKG's writings |
||
| Line 1: | Line 1: | ||
{{unreferenced}} |
|||
{{onesource}} |
|||
'''Countervailing power''' is a theory put forward by the esteemed economist [[John Kenneth Galbraith]]. In a [[mixed economy]] composed of [[private enterprise]] and [[government]], there is often a certain level of [[collusion]] between large private entities and the government in order to create excess [[profitability]] at the expense of the [[consumer]]. A paraphrasal of John Kenneth Galbraith is to say that this action gives rise to the opposite reaction of countervailing powers, that is to say [[lobby groups]] or [[trade union|unions]] or some other group with which to countervail the unearned power. |
'''Countervailing power''' is a theory put forward by the esteemed economist [[John Kenneth Galbraith]]. In a [[mixed economy]] composed of [[private enterprise]] and [[government]], there is often a certain level of [[collusion]] between large private entities and the government in order to create excess [[profitability]] at the expense of the [[consumer]]. A paraphrasal of John Kenneth Galbraith is to say that this action gives rise to the opposite reaction of countervailing powers, that is to say [[lobby groups]] or [[trade union|unions]] or some other group with which to countervail the unearned power. |
||
{{economy-stub}} |
{{economy-stub}} |
||
Revision as of 12:35, 17 July 2008
 |
| This article relies largely or entirely on a single source. |
Countervailing power is a theory put forward by the esteemed economist John Kenneth Galbraith. In a mixed economy composed of private enterprise and government, there is often a certain level of collusion between large private entities and the government in order to create excess profitability at the expense of the consumer. A paraphrasal of John Kenneth Galbraith is to say that this action gives rise to the opposite reaction of countervailing powers, that is to say lobby groups or unions or some other group with which to countervail the unearned power.
 | This article about the economy is a stub. You can help Wikipedia by expanding it. |