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Author: Joseph Shaanan Publisher: Springer ISBN: 3319506366 Category : Political Science Languages : en Pages : 303
Book Description
This book describes and refutes thirteen ideas involving free market principles and the US economic system, arguing that these (mostly familiar) ideas are myths. The myths are deeply ingrained in the United States' self-image and in political discourse, and are hailed as indisputable, scientifically grounded truths. Unfortunately, an economy dominated by giant corporations bears little resemblance to a free market. So why is so much effort and expense devoted to disseminating these stories? The answer is simple. The different myths generate the recommendation that the system's rewards should flow upward to corporations and a small group of wealthy and politically influential people. The myths help entrench existing economic and political power while distancing America from a more productive and widely beneficial form of capitalism.
Author: Joseph Shaanan Publisher: Springer ISBN: 3319506366 Category : Political Science Languages : en Pages : 303
Book Description
This book describes and refutes thirteen ideas involving free market principles and the US economic system, arguing that these (mostly familiar) ideas are myths. The myths are deeply ingrained in the United States' self-image and in political discourse, and are hailed as indisputable, scientifically grounded truths. Unfortunately, an economy dominated by giant corporations bears little resemblance to a free market. So why is so much effort and expense devoted to disseminating these stories? The answer is simple. The different myths generate the recommendation that the system's rewards should flow upward to corporations and a small group of wealthy and politically influential people. The myths help entrench existing economic and political power while distancing America from a more productive and widely beneficial form of capitalism.
Author: Bernard E. Harcourt Publisher: Harvard University Press ISBN: 0674971329 Category : Business & Economics Languages : en Pages : 337
Book Description
It is widely believed today that the free market is the best mechanism ever invented to efficiently allocate resources in society. Just as fundamental as faith in the free market is the belief that government has a legitimate and competent role in policing and the punishment arena. This curious incendiary combination of free market efficiency and the Big Brother state has become seemingly obvious, but it hinges on the illusion of a supposedly natural order in the economic realm. The Illusion of Free Markets argues that our faith in “free markets” has severely distorted American politics and punishment practices. Bernard Harcourt traces the birth of the idea of natural order to eighteenth-century economic thought and reveals its gradual evolution through the Chicago School of economics and ultimately into today’s myth of the free market. The modern category of “liberty” emerged in reaction to an earlier, integrated vision of punishment and public economy, known in the eighteenth century as “police.” This development shaped the dominant belief today that competitive markets are inherently efficient and should be sharply demarcated from a government-run penal sphere. This modern vision rests on a simple but devastating illusion. Superimposing the political categories of “freedom” or “discipline” on forms of market organization has the unfortunate effect of obscuring rather than enlightening. It obscures by making both the free market and the prison system seem natural and necessary. In the process, it facilitated the birth of the penitentiary system in the nineteenth century and its ultimate culmination into mass incarceration today.
Author: Mark Anthony Martinez Publisher: Kumarian Press ISBN: 1565492676 Category : Business & Economics Languages : en Pages : 338
Book Description
* Explains how the 2008 financial meltdown came about and how to revitalize global and domestic economies * Shows how capitalist economies developed and why the state matters in their functioning 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 bailout. Mark Martinez describes how the flawed myth of the "invisible hand" distorted our understanding of how modern capitalist markets developed and actually work. Martinez draws from history to illustrate that political processes and the state are not only instrumental in making capitalist markets work but that there would be no capitalist markets or wealth creation without state intervention. He brings his story up to the present day to show how the seeds of an unprecedented government intervention in the financial markets were sown in past actions. The Myth of the Free Market is a fascinating and accessible introduction to comparative economic systems as well as an incisive refutation of the standard mantras of neoclassical free market economic theory.
Author: Thomas Philippon Publisher: Belknap Press ISBN: 0674237544 Category : Business & Economics Languages : en Pages : 361
Book Description
American markets, once a model for the world, are giving up on competition. Thomas Philippon blames the unchecked efforts of corporate lobbyists. Instead of earning profits by investing and innovating, powerful firms use political pressure to secure their advantages. The result is less efficient markets, leading to higher prices and lower wages.
Author: Jonathan Tepper Publisher: John Wiley & Sons ISBN: 1394184069 Category : Business & Economics Languages : en Pages : 349
Book Description
The Myth of Capitalism tells the story of how America has gone from an open, competitive marketplace to an economy where a few very powerful companies dominate key industries that affect our daily lives. Digital monopolies like Google, Facebook and Amazon act as gatekeepers to the digital world. Amazon is capturing almost all online shopping dollars. We have the illusion of choice, but for most critical decisions, we have only one or two companies, when it comes to high speed Internet, health insurance, medical care, mortgage title insurance, social networks, Internet searches, or even consumer goods like toothpaste. Every day, the average American transfers a little of their pay check to monopolists and oligopolists. The solution is vigorous anti-trust enforcement to return America to a period where competition created higher economic growth, more jobs, higher wages and a level playing field for all. The Myth of Capitalism is the story of industrial concentration, but it matters to everyone, because the stakes could not be higher. It tackles the big questions of: why is the US becoming a more unequal society, why is economic growth anemic despite trillions of dollars of federal debt and money printing, why the number of start-ups has declined, and why are workers losing out.
Author: Kenneth L. Fisher Publisher: John Wiley & Sons ISBN: 1118445015 Category : Business & Economics Languages : en Pages : 227
Book Description
Exposes the truth about common investing myths and misconceptions and shows you how the truth shall set you free—to reap greater long-term and short-term gains Everybody knows that a strong dollar equals a strong economy, bonds are safer than stocks, gold is a safe investment and that high PEs signal high risk...right? While such "common-sense" rules of thumb may work for a time as investment strategies, as New York Times and Wall Street Journal bestselling author, Ken Fisher, vividly demonstrates in this wise, informative, wholly entertaining new book, they'll always let you down in the long run. Ken exposes some of the most common—and deadly—myths investors swear by, and he demonstrates why the rules-of-thumb approach to investing may be robbing you of the kinds returns you hope for. Dubbed by Investment Advisor magazine one of the 30 most influential individuals of the last three decades, Fisher is Chairman, and CEO of a global money management firm with over $32 billion under management Fisher's Forbes column, "Portfolio Strategy," has been an extremely popular fixture in Forbes for more than a quarter century thanks to his many high-profile calls Brings together the best "bunks" by Wall Street's Master Debunker in a fun, easy-to-digest, bite-size format More than just a list of myths, Fisher meticulously explains of why each commonly held belief or strategy is dead wrong and how damaging it can be to your financial health Armed with this book, investors can immediately identify major errors they may be committing and adjust their strategies for greater investing success
Author: Lawrence D. Brown Publisher: University of Chicago Press ISBN: 0226076458 Category : Political Science Languages : en Pages : 162
Book Description
Despite George W. Bush’s professed opposition to big government, federal spending has increased under his watch more quickly than it did during the Clinton administration, and demands on government have continued to grow. Why? Lawrence Brown and Lawrence Jacobs show that conservative efforts to expand markets and shrink government often have the ironic effect of expanding government’s reach by creating problems that force legislators to enact new rules and regulations. Dismantling the flawed reasoning behind these attempts to cast markets and public power in opposing roles, The Private Abuse of the Public Interest urges citizens and policy makers to recognize that properly functioning markets presuppose the government’s ability to create, sustain, and repair them over time. The authors support their pragmatic approach with evidence drawn from in-depth analyses of education, transportation, and health care policies. In each policy area, initiatives such as school choice, deregulation of airlines and other carriers, and the promotion of managed care have introduced or enlarged the role of market forces with the aim of eliminating bureaucratic inefficiency. But in each case, the authors show, reality proved to be much more complex than market models predicted. This complexity has resulted in a political cycle—strikingly consistent across policy spheres—that culminates in public interventions to sustain markets while protecting citizens from their undesirable effects. Situating these case studies in the context of more than two hundred years of debate about the role of markets in society, Brown and Jacobs call for a renewed focus on public-private partnerships that recognize and respect each sector’s vital—and fundamentally complementary—role.
Author: Stephen W. Twing Publisher: Lynne Rienner Publishers ISBN: 9781555877668 Category : Biography & Autobiography Languages : en Pages : 232
Book Description
In what ways does national culture influence the direction of US foreign policy? This study analyzes how certain cultural elements influenced the policy preferences and policymaking behaviours of three Cold War-era statesmen - John Foster Dulles, Averell Harriman and Robert McNamara.
Author: Arthur E. Farnsley II Publisher: Wipf and Stock Publishers ISBN: 1621893529 Category : Religion Languages : en Pages : 129
Book Description
Americans live their lives through institutions: government, businesses, schools, clubs, and houses of worship. But many Americans are wary of the control these groups--especially government and business--exercise over their lives. Flea Market Jesus provides an up-close look at the rugged individualism of those trying hardest to separate themselves from institutions: flea market dealers. Having spent most of his life studying American religious organizations, Art Farnsley turns his attention to America's most solitary, and alienated, entrepreneurs. Farnsley describes an entire subculture of white Midwesterners--working class, middle class, and poor--gathered together in a uniquely American celebration of guns and frontier life. In this mix, the character "Cochise" voices the frustrations of flea market dealers toward business, politics, and, especially, religion. Part ethnography, part autobiography, Flea Market Jesus is a story about alienation, biblical literalism, libertarianism, and deep-seated religious belief. It is not about the Tea Party, the Occupy movement, or the Christian Right, but it shines a light on all of these by highlighting the potent combination of mistrust, resentment, and personal liberty too often kept in the shadows of public discourse among educated elites.
Author: Naomi Oreskes Publisher: Bloomsbury Publishing USA ISBN: 1635573580 Category : Business & Economics Languages : en Pages : 577
Book Description
"A carefully researched work of intellectual history, and an urgently needed political analysis." --Jane Mayer “[A] scorching indictment of free market fundamentalism ... and how we can change, before it's too late.”-Esquire, Best Books of Winter 2023 The bestselling authors of Merchants of Doubt offer a profound, startling history of one of America's most tenacious--and destructive--false ideas: the myth of the "free market." In their bestselling book Merchants of Doubt, Naomi Oreskes and Erik M. Conway revealed the origins of climate change denial. Now, they unfold the truth about another disastrous dogma: the “magic of the marketplace.” In the early 20th century, business elites, trade associations, wealthy powerbrokers, and media allies set out to build a new American orthodoxy: down with “big government” and up with unfettered markets. With startling archival evidence, Oreskes and Conway document campaigns to rewrite textbooks, combat unions, and defend child labor. They detail the ploys that turned hardline economists Friedrich von Hayek and Milton Friedman into household names; recount the libertarian roots of the Little House on the Prairie books; and tune into the General Electric-sponsored TV show that beamed free-market doctrine to millions and launched Ronald Reagan's political career. By the 1970s, this propaganda was succeeding. Free market ideology would define the next half-century across Republican and Democratic administrations, giving us a housing crisis, the opioid scourge, climate destruction, and a baleful response to the Covid-19 pandemic. Only by understanding this history can we imagine a future where markets will serve, not stifle, democracy.
Author: Joseph Shaanan
Author: Joseph Shaanan
Author: Bernard E. Harcourt
Author: Mark Anthony Martinez
Author: Thomas Philippon
Author: Jonathan Tepper
Author: Kenneth L. Fisher
Author: Lawrence D. Brown
Author: Stephen W. Twing
Author: Arthur E. Farnsley II
Author: Naomi Oreskes