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America's Free Market Myths

Debunking Market Fundamentalism

  • Joseph Shaanan

Table of contents

  1. Front Matter
    Pages i-viii
  2. Joseph Shaanan
    Pages 1-14
  3. Economics

    1. Front Matter
      Pages 15-15
    2. Joseph Shaanan
      Pages 17-33
    3. Joseph Shaanan
      Pages 49-70
    4. Joseph Shaanan
      Pages 89-108
  4. Socio-Economic

    1. Front Matter
      Pages 109-109
    2. Joseph Shaanan
      Pages 111-125
    3. Joseph Shaanan
      Pages 127-146
  5. Political-Economic

    1. Front Matter
      Pages 147-147
    2. Joseph Shaanan
      Pages 149-170
  6. The Crash and Bailouts

    1. Front Matter
      Pages 221-221
  7. Back Matter
    Pages 253-303

About this book

Introduction

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.

Keywords

free market principles american exceptionalism the invisible hand market rules market fundamentalism standard of living rent seeking neoliberalism american economic system US economic system

Authors and affiliations

  • Joseph Shaanan
    • 1
  1. 1.Bryant University SmithfieldUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-50636-4
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2017
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-50635-7
  • Online ISBN 978-3-319-50636-4
  • Buy this book on publisher's site
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