The Failure of Laissez Faire Capitalism and Economic Dissolution of the West

The Failure of Laissez Faire Capitalism and Economic Dissolution of the West

by Paul Craig Roberts, Ryan McCullough
     
 

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This very readable book by a distinguished economist, Wall Street Journal editor, and Assistant Secretary of the US Treasury is a major challenge both to economic theory and to media explanations of the ongoing 21st century economic crisis. The one percent have pulled off an economic and political revolution. By offshoring manufacturing and professional service jobs,…  See more details below

Overview

This very readable book by a distinguished economist, Wall Street Journal editor, and Assistant Secretary of the US Treasury is a major challenge both to economic theory and to media explanations of the ongoing 21st century economic crisis. The one percent have pulled off an economic and political revolution. By offshoring manufacturing and professional service jobs, US corporations destroyed the growth of consumer income, the basis of the US economy, leaving the bulk of the population mired in debt. Deregulation was used to concentrate income and wealth in fewer hands and financial firms in corporations “too big to fail,” removing financial corporations from market discipline and forcing taxpayers in the US and Europe to cover bankster losses. Environmental destruction has accelerated as economists refuse to count the exhaustion of nature’s resources as a cost and as corporations impose the cost of their activities on the environment and on third parties who do not share in the profits. This is the book to read for those who want to understand the mistakes that are bringing the West to its knees.

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Editorial Reviews

Michael Hudson
In his inimitable way, Roberts describes how the rhetorical patter talk about free-markets is a cover story for the horror of an extractive asset-stripping operation by publicly-supported private banks and the governments that they control that impoverishes people and the environment.
Nomi Prins
This book is fearless. Roberts' conclusions are sobering,
his solutions bold, his book a compelling gift.

Product Details

ISBN-13:
2940016236490
Publisher:
Atwell Publishing
Publication date:
03/06/2013
Sold by:
Barnes & Noble
Format:
NOOK Book
Sales rank:
842,164
File size:
1 MB

Meet the Author

The Honorable Dr. Roberts was educated at Georgia Tech, the University of Virginia, the University of California, Berkeley, and Oxford University where he was a member of Merton College.

He was Assistant Secretary of the US Treasury in the Reagan administration, a member of the US Congressional staff, associate editor and columnist for the Wall Street Journal, columnist for Business Week, the Scripps Howard News Service, and Creators Syndicate, Senior Research Fellow, Hoover Institution, Stanford University, and was appointed to the William E. Simon Chair in Political Economy, Center for Strategic and International Studies, Georgetown University.

He is chairman of the Institute for Political Economy and author or coauthor of ten books and numerous articles in scholarly journals. He has testified before committees of Congress on 30 occasions.

Dr. Roberts was awarded the US Treasury’s Meritorious Service Award for “outstanding contributions to the formulation of US economic policy,” and France’s Legion of Honor as “the artisan of a renewal in economic science and policy after half a century of state interventionism.”

To learn more about Dr. Paul Craig Roberts visit his website at: http://www.paulcraigroberts.com

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