John Kenneth Galbraith maintains that advertising is the prime instrument for the management of total consumer demand and results in increased consumption. Galbraith also maintains that television is a more effective advertising tool, in that it reaches people in all spectrums of intelligence. Other economists disagree, holding that it is actually consumer disposable income that determines consumer demand. A path analytic model was devised to test these arguments with measures and statistics on capitalism, per capita gross national product, advertising expenditures, and aggregate consumption as variables. The results provide strong support for the assertion that it is advertising, rather than general affluence, that is the major determinant of consumption. However, they do not support the argument that television is a stronger advertising medium than print. Neither print advertising expenditures nor television advertising expenditures predict aggregate consumption as well as do total expenditures. This suggests that advertising media are complementary, and that advertising's greatest effects are achieved with a mix of media. (HTH)