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The End of Economics


 
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Book Description

Most economic theory assumes a pure capitalism of perfect competition. Even when it is recognized that this does not exist, many politicians and captains of industry pay a great deal of lip service to the idea of the market. This book goes beyond the rhetoric to explore how, even in the United States, the most capitalist of all countries, the market has always been subjected to numerous constraints. As well as discussing the opinions of economists, the book looks at the opinions and practices of figures such as Henry Ford, J.P. Morgan, and Herbert Hoover.

Table of Contents

Introduction

1. The End of Economics

2. Economic Theory and the Historical Increase of Fixed Capital

3. Railroads and the Increase in Fixed Capital

4. The Role of Finance

5. Industry Takes Command: The rise of welfare capitalism

6. Modern Finance Capital

7. The Depression

8. The Golden Age

9. Conclusion

...
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Author(s)

Biography

Michael  Perelman  is  Professor  of  Economics  at  California  State  University,  Chico.  His  previous  books  include:  The  Pathology  of  the  U.S.  Economy;  Information,  Social  Relations  and  the  Economics  of  High  TechnologyKeynes,  Investment  Theory  and  the  Economic Slowdown and Karl Marx’s Crisis Theory.

Reviews

"Perelman's  ...  historical framework - utilizing  real  events and real  persons,  inside and outside  the economics profession - is intriguing." Review of Social Economy