The End of Economics
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
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
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 Technology; Keynes, Investment Theory and the Economic Slowdown and Karl Marx’s Crisis Theory.
"Perelman's ... historical framework - utilizing real events and real persons, inside and outside the economics profession - is intriguing." Review of Social Economy