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corporatism |
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corporatismBelief that the state in capitalist democracies should intervene to a large extent in the economy to ensure social harmony. In Austria, for example, corporatism results in political decisions often being taken after discussions between chambers of commerce, trade unions, and the government. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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McCraw's Prophet of Innovation, in conjunction with the 40th-anniversary edition of John Kenneth Galbraith's The New Industrial State, a highly influential book that essentially called for corporate socialism. The wealthy and their retainers tout the economic system of the United States as capitalism, but the reality is that it functions as corporate socialism. Depreciation has been delayed because Japan, in its reaction to post-bubble deflation, has reverted to a kind of corporate socialism, protecting weak companies through rapid and massive increases in public spending. |
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