© 2002

The Pathology of the U.S. Economy Revisited

The Intractable Contradictions of Economic Policy

  • Authors

Table of contents

  1. Front Matter
    Pages i-v
  2. Michael Perelman
    Pages 1-5
  3. Michael Perelman
    Pages 7-30
  4. Michael Perelman
    Pages 57-94
  5. Michael Perelman
    Pages 95-107
  6. Michael Perelman
    Pages 205-214
  7. Back Matter
    Pages 215-247

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.


competition economic policy Government monetary policy

About the authors

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

Industry Sectors
Finance, Business & Banking