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The Myth of the Free Market: The Role of the State in a Capitalist Economy
     

The Myth of the Free Market: The Role of the State in a Capitalist Economy

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by Mark A. Martinez
 

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ISBN-10: 1565492676

ISBN-13: 9781565492677

Pub. Date: 03/28/2009

Publisher: Kumarian Press, Inc.

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

Overview

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 subsequent bailouts. Mark Martinez describes how the flawed myth of the "invisible hand" distorted our understanding of how modern capitalist markets developed and actually work.

Product Details

ISBN-13:
9781565492677
Publisher:
Kumarian Press, Inc.
Publication date:
03/28/2009
Edition description:
New Edition
Pages:
336
Product dimensions:
6.00(w) x 8.90(h) x 0.80(d)

Related Subjects

Table of Contents

Acknowledgments v

List of Illustrations ix

Introduction: Understanding Markets and States xi

Part I Things to (Re)consider

Chapter 1 Milton Friedman Got It Wrong: Politics is at the Heart of Capitalism 3

Chapter 2 Free Markets and Wealth (Re)Considered 25

Part II The Role of the State in Creating Market Capitalism

Chapter 3 The Very Political Roots of Market Capitalism: Embracing Individual Achievement and Vanity 53

Chapter 4 Manias and the Philosopher's Stone: The Road to Wealth and Regulated Money 77

Part III Making Markets Work in Practice: The State in Action

Chapter 5 War Made the State and the State Made War 95

Chapter 6 How Medieval Organized Violence Led to Mercantilism, Middle-Class Bargains, and Market Capitalism 115

Chapter 7 Toward "Freer" International Trade 141

Chapter 8 America's Post-World War II Grand Liberal Strategy 163

Part IV States and Modern Markets: From Political Money to Wall Street Socialism

Chapter 9 From Keynes to Deregulation and Exploding Capital Flows 181

Chapter 10 An Empire of Debt: Violating Adam Smith's Laws of Nature? 205

Chapter 11 The Deregulation Game 241

Chapter 12 From Deregulation to the Mother of All Bailouts 267

Bibliography 291

Index 303

About the Author 319

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The Myth of the Free Market: The Role of the State in a Capitalist Economy 5 out of 5 based on 0 ratings. 1 reviews.
Anonymous More than 1 year ago