Railroading Economics The Creation of the Free Market Mythology

ISBN-10: 1583671358
ISBN-13: 9781583671351
Edition: 2006 (Annotated)
Authors: Michael Perelman
List price: $22.00 Buy it from $16.65
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Description: 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  More...

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Book details

List price: $22.00
Copyright year: 2006
Publisher: Monthly Review Press
Publication date: 6/1/2006
Binding: Paperback
Pages: 224
Size: 6.00" wide x 8.75" long x 0.50" tall
Weight: 0.946
Language: English

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.

Michael Perelman is professor of economics at California State University at Chico, and the author of numerous books, including Steal This Idea and Railroading Economics.

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