On Corporate Capitalism in America

"On Corporate Capitalism in America," The Public Interest, Fall 1975.


Whether for good or evil—and one can leave this for future historians to debate–the large corporation has gone “quasi-public,” i.e., it now straddles, uncomfortably and uncertainly, both the private and public sectors of our “mixed economy.” In a sense one can say that the modem large corporation stands to the bourgeois-individualist capitalism of yesteryear as the “imperial” American polity stands to the isolated republic from which it emerged: Such a development may or may not represent “progress,” but there is no turning back.

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