IN THE REVIEW

Rating Nader

The Monopoly Makers

edited by Mark J. Green

Sowing the Wind

by Harrison Wellford
For the Progressives and New Dealers, who accepted capitalism but abhorred its excesses, government regulation of business was the answer to Marx. It resolved the contradiction between America’s concentrated economic structure and its democratic political faith. Through regulation, the liberals believed, the people retained sovereignty over the interests. As Arthur …

Screwed!

The Rape of the Taxpayer

by Philip Stern
Tax reform, as George McGovern found out, is about as practical a cause as spelling reform. The income tax has been riddled with exceptions—not loopholes but truckholes, as the economist Joseph Pechman put it—since the day it was born. Every so often Congress feels moved to pass a cynical, regressive …

Taps for Liberals

Setting National Priorities: The 1973 Budget

by Charles L. Schultze, Edward R. Fried, Alice M. Rivlin, and Nancy H. Teeters

Shelter and Subsidies: Who Benefits from Federal Housing Policies

by Henry Aaron
Even without LBJ’s death, January would have been a month of epitaphs for the Great Society. First the White House announced an unprecedented freeze on appropriated funds for public housing and sewage treatment. Then it proposed a budget liquidating the most ambitious social projects of the 1960s—a Republican version of …

The TV Racket

A Tower in Babel: A History of Broadcasting in the United States to 1933

by Erik Barnouw

The Golden Web: A History of Broadcasting in the United States, 1933-1953

by Erik Barnouw
In 1927, Philo T. Farnsworth, a backyard inventor, and his financial backer, George Everson, gathered for a demonstration of Farnsworth’s television apparatus. For the first time, Farnsworth successfully transmitted several graphic designs, including a dollar sign. As Everson recalled later, “It seemed to jump out at us on the screen.” …

A Case of Inflation

The New Industrial State

by John Kenneth Galbraith
“Galbraith Corrects Galbraith’s Errors,” announced a New York Times story about the publication of the second edition of The New Industrial State. But the event hasn’t precisely matched the advance publicity. As befits a critic of the auto industry’s annual style changes, Professor Galbraith has avoided wasteful retooling costs in …