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The accepted ideas of any period are singularly those that serve the dominant economic interest...what economists believe and teach, whether in the united states or in the soviet union, is rarely hostile to the institutions - the private business enterprise, the communist party - that reflect the dominant economic power. not to notice this takes effort, although many succeed.
-John Kenneth Galbraith
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The Accepted Ideas Of Any Period Are

John Kenneth Galbraith
The accepted ideas of any period are singularly those that serve the dominant economic interest...what economists believe and teach, whether in the united states or in the soviet union, is rarely hostile to the institutions - the private business enterprise, the communist party - that reflect the dominant economic power. not to notice this takes effort, although many succeed.
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Private enterprise is ceasing to be free enterprise. private enterprise, indeed, became too private. it became privileged enterprise, not free enterprise.
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25 million of russian people suddenly turned out to be outside the borders of the russian federation. they used to live in one state; the soviet union has traditionally been called russia, the soviet russia, and it was the great russia. then the soviet union suddenly fell apart, in fact, overnight, and it turned out that in the former soviet union republics there were 25 million russians. they used to live in one country and suddenly found themselves abroad. can you imagine how many problems came out?
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The quickest and surest way to production, prosperity, and economic growth is through private enterprise. the best way for governments to encourage private enterprise is to establish justice, to enforce contracts, to insure domestic peace and tranquility, to protect private property, and to secure the blessings of liberty including economic liberty - which means to stop putting obstacles in the way of private enterprise.
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Each pursues his private interest and only his private interest; and thereby serves the private interests of all, the general interest, without willing it or knowing it. the real point is not that each individual's pursuit of his private interest promotes the totality of private interests, the general interest. one could just as well deduce from this abstract phrase that each individual reciprocally blocks the assertion of the others' interests, so that, instead of a general affirmation, this war of all against all produces a general negation.
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Why were the europeans bothered about the soviet union at all? it was nothing to do with us. china had nothing to do with us. why were we not building, without reference to the soviet union, a good society in our own countries? but no, we were all - in one way or another - obsessed with the bloody soviet union, which was a disaster. what people were supporting was failure. and continually justifying it.
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I don't think we replaced the soviet union with al qaida. i think we replaced, we should have, soviet union with the merger of globalization and the it revolution. i think it's that. that is the real challenge that we face today. unlike the soviet union, it has no face, it has no missiles, but it is something that challenges every job, every city and every community.
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