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Palgrave Macmillan

The Pathology of the U.S. Economy Revisited

The Intractable Contradictions of Economic Policy

  • Book
  • © 2002

Overview

Authors:
  1. Michael Perelman
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Table of contents (10 chapters)

  1. Front Matter

    Pages i-v
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  2. Introduction Setting the Stage

    • Michael Perelman
    Pages 1-5

  3. Down the Tubes?

    • Michael Perelman
    Pages 7-30

  4. The Attack on Labor Accelerates the Economic Decline

    • Michael Perelman
    Pages 31-56

  5. Government and the Decline

    • Michael Perelman
    Pages 57-94

  6. The Role of the Military in the Economic Decline

    • Michael Perelman
    Pages 95-107

  7. Keynesian Policy, Monetary Policy, and the Weakening of Competition

    • Michael Perelman
    Pages 109-139

  8. Finance, the Falling Rate of Profit and Economic Devastation

    • Michael Perelman
    Pages 141-162

  9. Deindustrialization and the Rise of the Service Economy

    • Michael Perelman
    Pages 163-179

  10. High Wages, Enlightened Management, and Economic Productivity

    • Michael Perelman
    Pages 181-203

  11. Is There a New Economy?

    • Michael Perelman
    Pages 205-214

  12. Back Matter

    Pages 215-247
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Keywords

About this book

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.

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.

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