An economist considers the American economy and presents the theory that American capitalism has justified intself and a "countervailing power" has developed since World War II in the form of "strong buyers" to replace the dying competition among settlers.

The insecurity of illusion -- The foundation of the faith -- The problem of power -- The abandonment of the model -- The ogre of economic power -- The depression psychosis -- The economics of technical development -- The unseemly economics of opulence -- The theory of countervailing power -- Countervailing power and the state -- The case of agriculture -- The role of decentralized decision -- The role of centralized decision -- The problem of restraint.