Description
America's Free Market Myths, 1st ed. 2017
Debunking Market Fundamentalism
Author: Shaanan Joseph
Language: EnglishSubjects for America's Free Market Myths:
America's Free Market Myths
Publication date: 06-2017
Support: Print on demand
Publication date: 06-2017
Support: Print on demand
America's Free Market Myths
Publication date: 08-2018
Support: Print on demand
Publication date: 08-2018
Support: Print on demand
Description
/li>Contents
/li>Biography
/li>Comment
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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.
Introduction
I. Economics
Myth 1. America Has Free Markets
Myth 2. A Great Wall Separates Politics and the Economy
Myth 3. The Less Government, The Better
Myth 4. Deregulation Always Improves the Economy
Myth 5. The Economy Has Superior Efficiency
II. Socio-Economic
Myth 6. Exceptional Living Standards
Myth 7. An Egalitarian Nation
III. Political-Economic
Myth 8. Free Markets Protect Democracy
Myth 9. Corporations Represent Economic Freedom
Myth 10. Free Market and Laissez Faire Are the Same
Myth 11. A Free Market Nation Does Not Need a Society
IV. The Crash and Bailouts
Myth 12. The Government Caused the Crash of 2007-08
Myth 13. The Bailouts' Purpose Was to Save the Free Market Economy
Joseph Shaanan is Professor of Economics at Bryant University, USA. He is the author of Economic Freedom and the American Dream (2010).
Argues that the US economy is not a free market
Challenges 13 myths about the free market and the US economic system
Identifies sources of myth perpetuation
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