Taming Predatory Capitalism

James K. Galbraith

A chapter in Unbearable Cost, 2006, pp 219-220 from Palgrave Macmillan

Abstract: Abstract In 1899 Thorstein Veblen described predation as a phase in the evolution of culture, ‘attained only when the predatory attitude has become the habitual and accredited spiritual attitude … when the fight has become the dominant note in the current theory of life’. After an entire century’s struggle to escape from this phase, we’ve suffered a relapse. The predators are everywhere unleashed; the institutions built to contain them, from the UN to the AFL-CIO to the SEC, are everywhere under siege. Predation has become again the defining feature of economic life; our first problem is to grasp this reality in full.

Keywords: Public Capital; Predatory Attitude; High Minimum Wage; World Trading System; American Role (search for similar items in EconPapers)
Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-23672-1_62

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DOI: 10.1057/9780230236721_62

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