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The Pathology of the U.S. Economy Revisited: The Intractable Contradictions of Economic Policy

Michael Perelman. The Pathology of the U.S. Economy Revisited: The Intractable Contradictions of Economic Policy Authors:Michael Perelman.
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Book Summary:
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 economydeclines 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 inthe 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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