John Kenneth GalbraithJohn Kenneth Galbraith, (1908-2006) Canadian-born economist, Harvard professor

John Kenneth Galbraith Quote

“The great dialectic in our time is not, as anciently and by some still supposed, between capital and labor; it is between economic enterprise and the state.”

John Kenneth GalbraithJohn Kenneth Galbraith
~ John Kenneth Galbraith

Ratings and Comments

Mike, Norwalk

If by the term "capital", the meaning is expanded to include the fascist's extended beneficial owner's position - a corporation, or some other totalitarian commercial representation, the conflict between capital and labor is then one between the individual and the state. In both examples, the state is antithetic to individual labor and to economic enterprises. The great dialectic then has only changed from one state oppressed physical entity to an activity of financial operations. The pendulum of the socialist's focus shift will swing back when a need arises to progress more despotism, tyranny and totalitarianism.

E Archer, NYC

Absolutely. The statist tries to tempt labor with dreams of unearned capital through 'regulation.' Rather than a free market of fair trade, the prol demands a 'rigged' game that increases the public burden an individual must carry as his 'fair share.' Capital and labor are two sides of the same coin -- and the same physical and economic laws apply to that 'coin' as a gold coin, attempts to deface, counterfeit, or steal will have unavoidable consequences.

Mike, Norwalk

Today, now that "capital" (as the author uses it), "economic enterprise" (major corporations, banks, etc.) and the "state" have all become one, there is "NO" real dialogue, reasoning or investigation of eternal ideas concerning the here context "labor"   (there is only, and at best, empty lip service).


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