America S Free Market Myths
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America S Free Market Myths
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Author : Joseph Shaanan
language : en
Publisher: Springer
Release Date : 2017-05-26
America S Free Market Myths written by Joseph Shaanan and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-26 with Political Science categories.
This book describes and refutes thirteen ideas involving free market principles and the US economic system, arguing that these (mostly familiar) ideas are myths. The myths are deeply ingrained in the United States' self-image and in political discourse, and are hailed as indisputable, scientifically grounded truths. Unfortunately, an economy dominated by giant corporations bears little resemblance to a free market. So why is so much effort and expense devoted to disseminating these stories? The answer is simple. The different myths generate the recommendation that the system's rewards should flow upward to corporations and a small group of wealthy and politically influential people. The myths help entrench existing economic and political power while distancing America from a more productive and widely beneficial form of capitalism.
The Myth Of The Free Market
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Author : Mark Anthony Martinez
language : en
Publisher: Kumarian Press
Release Date : 2009
The Myth Of The Free Market written by Mark Anthony Martinez and has been published by Kumarian Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Business & Economics categories.
* Explains how the 2008 financial meltdown came about and how to revitalize global and domestic economies * Shows how capitalist economies developed and why the state matters in their functioning Free market purists claim that the state is an inefficient institution that does little for society beyond providing stability and protection. The activities related to distributing resources and economic growth, they say, are better left to the invisible hand of the marketplace. These notions now seem tragically misguided in the wake of the 2008 market collapse and bailout. Mark Martinez describes how the flawed myth of the "invisible hand" distorted our understanding of how modern capitalist markets developed and actually work. Martinez draws from history to illustrate that political processes and the state are not only instrumental in making capitalist markets work but that there would be no capitalist markets or wealth creation without state intervention. He brings his story up to the present day to show how the seeds of an unprecedented government intervention in the financial markets were sown in past actions. The Myth of the Free Market is a fascinating and accessible introduction to comparative economic systems as well as an incisive refutation of the standard mantras of neoclassical free market economic theory.
The Illusion Of Free Markets
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Author : Bernard E. Harcourt
language : en
Publisher: Harvard University Press
Release Date : 2012-11-12
The Illusion Of Free Markets written by Bernard E. Harcourt and has been published by Harvard University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-12 with Business & Economics categories.
It is widely believed today that the free market is the best mechanism ever invented to efficiently allocate resources in society. Just as fundamental as faith in the free market is the belief that government has a legitimate and competent role in policing and the punishment arena. This curious incendiary combination of free market efficiency and the Big Brother state has become seemingly obvious, but it hinges on the illusion of a supposedly natural order in the economic realm. The Illusion of Free Markets argues that our faith in “free markets” has severely distorted American politics and punishment practices. Bernard Harcourt traces the birth of the idea of natural order to eighteenth-century economic thought and reveals its gradual evolution through the Chicago School of economics and ultimately into today’s myth of the free market. The modern category of “liberty” emerged in reaction to an earlier, integrated vision of punishment and public economy, known in the eighteenth century as “police.” This development shaped the dominant belief today that competitive markets are inherently efficient and should be sharply demarcated from a government-run penal sphere. This modern vision rests on a simple but devastating illusion. Superimposing the political categories of “freedom” or “discipline” on forms of market organization has the unfortunate effect of obscuring rather than enlightening. It obscures by making both the free market and the prison system seem natural and necessary. In the process, it facilitated the birth of the penitentiary system in the nineteenth century and its ultimate culmination into mass incarceration today.
Myths Of The Free Market
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Author : Kenneth S. Friedman
language : en
Publisher: Algora Publishing
Release Date : 2003
Myths Of The Free Market written by Kenneth S. Friedman and has been published by Algora Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Free enterprise categories.
Myths of the Free Market is arguably the most significant book in economics and politics since John Maynard Keynes. It systematically presents a broad range of telling criticisms of free market economics, criticisms that have not been presented elsewhere. Despite our genuine faith in the free market, laissez faire has not maximized wealth. When we moved from the purer free market policies of the 1920s and early 1930s to the proto-socialism of Roosevelt, our economic growth increased. As we have moved back to a purer free market, growth has slowed. We have lagged our trading partners who have mixed economies. Nor is this new. In the late 1800s the mixed economies of Bismarck's Germany and Meiji Japan outperformed the relatively free market economies of Great Britain and France. It is worse. Even in principle, laissez faire cannot work - it is incompatible with institutions that increase wealth. Patent protection is one example, easily generalized. It is worse yet. Laissez faire promotes the excessive concentration of wealth and exposes us all to avoidable danger. Over the last millennium there has been a 200-300 year cycle of wealth dispersion. Each time wealth disparity grew beyond a critical point it presaged decline and disaster for all of society. We now have the greatest disparity of wealth in our history. Kenneth Friedman holds an MS in Physics and PhD in Philosophy of Science from MIT. He has been interviewed in Barron's and on CNBC and quoted in The Wall Street Journal.
The Big Myth
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Author : Naomi Oreskes
language : en
Publisher: Bloomsbury Publishing USA
Release Date : 2023-02-21
The Big Myth written by Naomi Oreskes and has been published by Bloomsbury Publishing USA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-02-21 with Business & Economics categories.
"A carefully researched work of intellectual history, and an urgently needed political analysis." --Jane Mayer “[A] scorching indictment of free market fundamentalism ... and how we can change, before it's too late.”-Esquire, Best Books of Winter 2023 The bestselling authors of Merchants of Doubt offer a profound, startling history of one of America's most tenacious--and destructive--false ideas: the myth of the "free market." In their bestselling book Merchants of Doubt, Naomi Oreskes and Erik M. Conway revealed the origins of climate change denial. Now, they unfold the truth about another disastrous dogma: the “magic of the marketplace.” In the early 20th century, business elites, trade associations, wealthy powerbrokers, and media allies set out to build a new American orthodoxy: down with “big government” and up with unfettered markets. With startling archival evidence, Oreskes and Conway document campaigns to rewrite textbooks, combat unions, and defend child labor. They detail the ploys that turned hardline economists Friedrich von Hayek and Milton Friedman into household names; recount the libertarian roots of the Little House on the Prairie books; and tune into the General Electric-sponsored TV show that beamed free-market doctrine to millions and launched Ronald Reagan's political career. By the 1970s, this propaganda was succeeding. Free market ideology would define the next half-century across Republican and Democratic administrations, giving us a housing crisis, the opioid scourge, climate destruction, and a baleful response to the Covid-19 pandemic. Only by understanding this history can we imagine a future where markets will serve, not stifle, democracy.
The Private Abuse Of The Public Interest
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Author : Lawrence D. Brown
language : en
Publisher: University of Chicago Press
Release Date : 2009-05-15
The Private Abuse Of The Public Interest written by Lawrence D. Brown and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-05-15 with Political Science categories.
Despite George W. Bush’s professed opposition to big government, federal spending has increased under his watch more quickly than it did during the Clinton administration, and demands on government have continued to grow. Why? Lawrence Brown and Lawrence Jacobs show that conservative efforts to expand markets and shrink government often have the ironic effect of expanding government’s reach by creating problems that force legislators to enact new rules and regulations. Dismantling the flawed reasoning behind these attempts to cast markets and public power in opposing roles, The Private Abuse of the Public Interest urges citizens and policy makers to recognize that properly functioning markets presuppose the government’s ability to create, sustain, and repair them over time. The authors support their pragmatic approach with evidence drawn from in-depth analyses of education, transportation, and health care policies. In each policy area, initiatives such as school choice, deregulation of airlines and other carriers, and the promotion of managed care have introduced or enlarged the role of market forces with the aim of eliminating bureaucratic inefficiency. But in each case, the authors show, reality proved to be much more complex than market models predicted. This complexity has resulted in a political cycle—strikingly consistent across policy spheres—that culminates in public interventions to sustain markets while protecting citizens from their undesirable effects. Situating these case studies in the context of more than two hundred years of debate about the role of markets in society, Brown and Jacobs call for a renewed focus on public-private partnerships that recognize and respect each sector’s vital—and fundamentally complementary—role.
Demolishing The Myths Of Free Market Economics
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Author : Roman Senoner
language : en
Publisher: Independently Published
Release Date : 2022-09-05
Demolishing The Myths Of Free Market Economics written by Roman Senoner and has been published by Independently Published this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-09-05 with categories.
The central point of free-market economics is the idea that an unregulated market is in our best interest. But have you ever asked yourself if that is really true? The current narrative is that if we regulate markets, this will impede the private sector, which creates the wealth necessary for us to thrive, pay taxes, and experience joy. Apparently, we rely on its generous benefactors for everything. The story goes further, insisting that by granting rights and enforcing minimum standard regulations, we will burden the economy and render ourselves less prosperous. Instead, we must transfer wealth to the already wealthy, who will see to it that prosperity trickles down. Is this based in reality? You likely know the answer already. It turns out that these "beliefs" are grounded in deceit, and the current system is very much a scam. Rights and regulations actually expand prosperity, and raising the living standard of the working people will make society more prosperous, diminishing inequality. "Free markets" are the opposite of what a healthy society needs, as they invariably lead to exploitation, monopolies, and generally dreary vistas. This title lays out the steps required to place us on a saner path-one bound for an economy that benefits the many, not the few. Embark today!
The Great Reversal
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Author : Thomas Philippon
language : en
Publisher: Belknap Press
Release Date : 2019
The Great Reversal written by Thomas Philippon and has been published by Belknap Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Business & Economics categories.
American markets, once a model for the world, are giving up on competition. Thomas Philippon blames the unchecked efforts of corporate lobbyists. Instead of earning profits by investing and innovating, powerful firms use political pressure to secure their advantages. The result is less efficient markets, leading to higher prices and lower wages.
Railroading Economics
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Author : Michael Perelman
language : en
Publisher: NYU Press
Release Date : 2006-06
Railroading Economics written by Michael Perelman and has been published by NYU Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-06 with Business & Economics categories.
Most economic theory assumes a pure capitalism of perfect competition. This book is a penetrating critique of the rhetoric and practice of conventional economic theory. It explores how even in the United States—the most capitalist of countries—the market has always been subject to numerous constraints. Perelman examines the way in which these constraints have been defended by such figures as Henry Ford, J. P. Morgan, and Herbert Hoover, and were indeed essential to the expansion of U.S. capitalism. In the process, he rediscovers the critical element in conservative thought—the “forgotten traditions of railroad economics”—that has been lost in the neoliberal present. This important and original historical reconstruction points the way to a discipline of economics freed from the mythology of the market.
The Myth Of Capitalism
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Author : Jonathan Tepper
language : en
Publisher: John Wiley & Sons
Release Date : 2023-04-25
The Myth Of Capitalism written by Jonathan Tepper and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-04-25 with Business & Economics categories.
The Myth of Capitalism tells the story of how America has gone from an open, competitive marketplace to an economy where a few very powerful companies dominate key industries that affect our daily lives. Digital monopolies like Google, Facebook and Amazon act as gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies, when it comes to high speed Internet, health insurance, medical care, mortgage title insurance, social networks, Internet searches, or even consumer goods like toothpaste. Every day, the average American transfers a little of their pay check to monopolists and oligopolists. The solution is vigorous anti-trust enforcement to return America to a period where competition created higher economic growth, more jobs, higher wages and a level playing field for all. The Myth of Capitalism is the story of industrial concentration, but it matters to everyone, because the stakes could not be higher. It tackles the big questions of: why is the US becoming a more unequal society, why is economic growth anemic despite trillions of dollars of federal debt and money printing, why the number of start-ups has declined, and why are workers losing out.