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new industrial state (PO)<br />GALBRAITH's term for the modern economy which is dominated by a 'technostructure' of large firms dedicated to stable production and the creation of wants so that there is no deficiency of demand for their products. He argues that the planning system used can be practised by both CAPITALIST and SOCIALIST ECONOMIES.<br /><em>Reference</em><br />Galbraith, LK. (1967) The New Industrial State, London: Hamish Hamilton; Boston, MA: Houghton Mifflin.
statistics (C1)<br />A set of methods for the collection, presentation, summary and analysis of data with a view to the drawing of valid conclusions.<br /> <br /><em>Reference</em><br />Hughes, A.J. (1971) Statistics: A Foundation for Analysis, Reading, MA: AddisonWesley.
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