Railroading Economics: The Creation of the Free Market Mythology

Front Cover
Monthly Review Press, 2006 - Business & Economics - 238 pages
0 Reviews

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.

From inside the book

What people are saying - Write a review

We haven't found any reviews in the usual places.

Contents

Introduction
9
The End of Economics
21
Economic Theory and the Historical Increase of Fixed Capital
51
Copyright

9 other sections not shown

Other editions - View all

Common terms and phrases

References to this book

About the author (2006)

Michael Perelman is professor of economics at California State University at Chico, and the author of numerous books, including Steal This Idea and Railroading Economics.

Bibliographic information