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Myths of the free market / Kenneth S. Friedman.
- Format:
- Book
- Author/Creator:
- Friedman, Kenneth S.
- Language:
- English
- Subjects (All):
- Free enterprise--Social aspects.
- Free enterprise.
- Physical Description:
- viii, 262 pages ; 23 cm
- Place of Publication:
- New York : Algora Pub., [2003]
- Summary:
- "Myths of the Free Market "is arguably the most significant book in economics and politics since John Maynard Keynes. It systematically presents a broad range of telling criticisms of free market economics, criticisms that have not been presented elsewhere.
- Contents:
- Blind Faith 1
- Economy 9
- 1. The Poverty of Laissez Faire
- The Evidence 11
- Laissez Faire Has Not Worked 11
- Early Symptoms of Economic Decline 17
- 2. Laissez Faire
- It Can't Possibly Work 25
- Laissez Faire Cannot Maximize Wealth 25
- Do We Want What Laissez Faire Promises? 29
- 3. Decline and Disaster 37
- History: The Effects of Economic Inequality 37
- Decline 37
- Disaster 40
- Wealth and Taxes 48
- 4. The Spawn of "Laissez Faire" 53
- Institutional Incubi 53
- Short-Term vs. Long-Term Investment Horizons 54
- Credit Overload 56
- Mutual Funds and Corporate Management 58
- Trade 64
- Free Trade vs. Mercantilism 66
- 5. Why We Fall for Laissez Faire 69
- Mythology of Early Laissez Faire 69
- Laissez Faire and Our Present Interests 75
- 6. The Virtual Reality of Classical Economics 79
- Economics: Theory vs. Reality 79
- Ebullient Markets
- Dangerous Economy 93
- 7. A New Economic Paradigm 99
- An Alternative Approach 99
- Nonlinear Thermodynamics and Economics 105
- Nonlinear Economics 115
- Polity 121
- Values, Science, Reason 123
- 1. Humanism 129
- The Propriety of Humanism 129
- "Strict Constructionist" as a Label 133
- The Focus of Humanism 136
- Individuals vs. Classes 141
- 2. Humanism and Government 151
- A Humanistic Rationale for Government 151
- Curbing Excessive Power 158
- 3. Rejecting Liberalism 169
- Freedom, Rights, and Libertarianism 171
- Libertarianism and the Relativity of Values 177
- 4. Democracy 185
- Do We (Should We) Have a Democracy? 185
- Democracy vs. Laissez Faire 199
- Is Local Government the Answer? 202
- 5. Prerequisities to Functional Democracy 207
- Masses vs. Elites 207
- 6. The Critical Role of Education 217
- Ultimate R&D: Education 217
- Education and the Foundations of Democracy 229
- Finality? 235
- Denouement 237
- The Free Market vs. The Environment 237.
- Notes:
- Includes bibliographical references (pages 249-253) and indexes.
- ISBN:
- 0875862233
- 0875862241
- OCLC:
- 51653027
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