This book describes the deep contradictions plague market economies. It shows how the influence of these contradictions sometimes subsides, allowing the economy to perform relatively well. But in time, these contradictions accumulate and economy declines as if it suffers from some degenerative disease. The policies designed to rise above these contradictions often spawn even more severe contradictions. This book describes how these contradictions have affected the economy of the United States in the past and the dangers that the future poses. For example, policies to stimulate the economy eventually lead to stagnation. Policies to make hold down wages make business even more uncompetitive. It also analyzes the destructive consequences of the military, finance, and the Federal Reserve. Finally, it debunks the mythological promise of a New Economy.

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About the author

Michael Perelman is the author of Class Warfare in the Information Age and Transcending the Economy. He is Professor of Economics at California State University at Chico.

Bibliographic Information

Book Title: The Pathology of the U.S. Economy Revisited
Book Subtitle: The Intractable Contradictions of Economic Policy
Authors: Michael Perelman
DOI: https://doi.org/10.1057/9780230108233
Publisher: Palgrave Macmillan New York
eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)
Copyright Information: Palgrave Macmillan, a division of Nature America Inc. 2002
Softcover ISBN: 978-0-312-29317-8Published: 12 January 2002
eBook ISBN: 978-0-230-10823-3Published: 12 January 2002
Edition Number: 1
Number of Pages: V, 247
Topics: Regional/Spatial Science, International Economics, Economic Policy, Political Economy/Economic Systems, Public Policy

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Table of contents (10 chapters)

Front Matter

Back Matter

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