American Capitalism: The Concept of Countervailing Power

American Capitalism: The Concept of Countervailing Power

American Capitalism: The Concept of Countervailing Power

American Capitalism: The Concept of Countervailing Power

Excerpt

Among the problems I encountered while working on this book, there are three which I feel justified in sharing with the reader. The first concerned the hideous threat of war. The ideas which I am here bringing to market I have been sorting out in my mind for the last three or four years. Most of them were formed, and many of them were committed to one or another of successive drafts of typescript, while it was still natural to assume that the peace would last. They deal with the United States and its economy as one was disposed to see it in the five years after the Japanese surrender. This was not a peaceful world but it was a world at peace. These ideas are not relevant to the United States at war and I would not be so bold as to suppose that they would seem very relevant when viewed from the radioactive debris that would remain after a war, including a victorious one. Not even the most unimaginative man can send a book to press in these days without wondering what the world will be like into which, after six months of gestation -- three months less than a human but one month more than a goat -- the helpless infant will be born. I have so wondered and it has remained only to hope. I am convinced that if my hopes are ill founded we will not in our time have a world in which speculation, of the kind on which I am here engaged, will be on such relatively amiable matters.

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