50 Years Ago an Economist Worried About Unchecked Corporate Power. Here’s What His Theory Got Wrong
Harvard Business Review
AUGUST 22, 2017
And if you landed from outer space in 1967, those large firms looked like the planned bureaucracies on the other side of the Iron Curtain. Galbraith’s answer was that they needed to be so because technology required large amounts of capital to be deployed — think your large auto assembly, oil refineries, and chemical plants.
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