Railroading Economics: The Creation of the Free Market Mythology

Railroading Economics: The Creation of the Free Market Mythology

by Michael Perelman
     
 

ISBN-10: 1583671358

ISBN-13: 9781583671351

Pub. Date: 06/01/2006

Publisher: Monthly Review Press

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

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Overview

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.

Product Details

ISBN-13:
9781583671351
Publisher:
Monthly Review Press
Publication date:
06/01/2006
Edition description:
ANN
Pages:
240
Sales rank:
356,864
Product dimensions:
6.00(w) x 9.00(h) x 0.55(d)

Table of Contents

1The end of economics21
2Economic theory and the historical increase of fixed capital51
3Railroads and the increase in fixed capital65
4The role of finance105
5Industry takes command : the rise of welfare capitalism129
6Modern finance capital149
7The Great Depression157
8The golden age175

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