First published in 1967, The New Industrial State continues to resonate today.

He also explains how the public realm is effectively controlled by the private sector. The arms industry is but one example of this: "While the Pentagon is still billed as being of the public sector, few doubt the influence of corporate power in its decisions." He also looks at the financial world which "sustains a large, active, well-rewarded community based on compelled but seemingly sophisticated ignorance," and in particular the Federal Reserve System, "our most prestigious form of fraud, our most elegant escape from reality." In essence, Galbraith says that the Fed, for all of its power and prestige, effectively does nothing. And he has little problem with this: "Let their ineffective role be accepted and forgiven."

Both a guide to the present and an aid to shaping the future, this slim, satisfying book is a font of wisdom, conventional and otherwise, from a respected elder statesman in the twilight of his life. --Shawn Carkonen

Written with verve and wit, his letters were relished by a president who had little patience for foolish ideas or bad prose. They stand out today as a vibrant chronicle of some of the most subtle and critical moments in the days of the Kennedy administration--and a fascinating record of the counsel that Galbraith offered President Kennedy. Ranging from a pithy commentary on Kennedy's speech accepting the 1960 Democratic presidential nomination (and inaugurating the "New Frontier") to reflections on critical matters of state such as the Cuban Missile Crisis and the threat of Communism in Indochina, Letters to Kennedypresents a rare, intimate picture of the lives and minds of a political intellectual and an intellectual politician during a particularly bright moment in American history.