50 Years Ago an Economist Worried About Unchecked Corporate Power. Here’s What His Theory Got Wrong

This summer marks 50 years since the publication of John Kenneth Galbraith’s The New Industrial State and its quick rise to the top of the New York Times Best Seller list. The book was one of the rare instances where an economist was able to capture public imagination and focus debate on big-picture economic issues. We have only rarely seen its like since — although Thomas Piketty gave it a great go in 2014, with Capital in the Twenty-First Century.