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Countervailing power


The idea, most fully developed by J. K. Galbraith in his book American Capitalism, that excessive power held by eine group can be balanced or neutralized by the power held by an opposing group, leading not to exploitation hut to a workable and reasonably equitable economic or political system. Thus the power of large employers may be balanced by that of large labour unions or of large manufacturers by retail chains.

Reference: The Penguin Dictionary of Economics, 3rd edt.