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The Myth of the Free Market: The Role of the State in a Capitalist Economy Paperback – March 31, 2009


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Editorial Reviews

Review

Strongly recommended for both academics and non-academics with interest in economic policy. --Voluntas

Thoughtful and erudite.... Mark Martinez forces us to re-examine the myth of the 'natural' free market order. --Ha-Joon Chang, University of Cambridge

A fast-moving primer bursting with relevant examples, The Myth of the Free Market is--to put it mildly--eye-opening. Mark Martinez's insight could not have arrived at a more important time. Compelling from cover to cover. --Bill Harnsberger, Daily Kos

Review

"Ronald Reagan told us that "government is not the solution to our problem, government is the problem". This statement helped convince an entire generation that government does little more than hinder economic growth and the well-being of society. Professor Martinez - via lucid writing and a wealth of historical evidence - clearly demonstrates that relying on private market players alone to protect the integrity of markets will not produce the outcomes society desires. Recent events confirm this hypothesis. Read this book and see why Ronald Reagan was wrong and how government not only organizes markets but can indeed be a solution to our problems."
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Product Details

  • Paperback: 317 pages
  • Publisher: Kumarian Press (March 31, 2009)
  • Language: English
  • ISBN-10: 1565492676
  • ISBN-13: 978-1565492677
  • Product Dimensions: 0.5 x 5.8 x 8.8 inches
  • Shipping Weight: 13.6 ounces (View shipping rates and policies)
  • Average Customer Review: 3.7 out of 5 stars  See all reviews (6 customer reviews)
  • Amazon Best Sellers Rank: #771,111 in Books (See Top 100 in Books)

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Most Helpful Customer Reviews

21 of 26 people found the following review helpful By John Hemington on December 7, 2009
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The Myth of the Free Market by Mark A. Martinez is exceptionally well researched and written. It reads more like a text book than a casual reader and, as such, should be required reading for every senior high school student in America. It thoroughly demolishes the concept that free markets exist on anything larger than a local scale and cogently explains why free markets on a larger scale are probably not possible. Beyond high school, it should be taught in every MBA and graduate economics program so that those who manage the financial empire actually have some relevant information about how things really work and are better able to cope with day to day reality. It is high time that delusional thinking stop being the core operating mode in both the private and public policy sectors of our economic world.
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4 of 5 people found the following review helpful By Milton L. Erhardt on February 24, 2013
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I found this book to be an accurate rendering of how the "Free Market" actually works.

But, before I go any further, I must admit to a certain prejudice concerning Mr. Martinez's book. One of Mr. Martinez's recurring sources is "Wealth and Democracy" written by the brilliant Kevin Phillips. I have read Mr. Phillips book at least twice. In my opinion it is a book that should be required reading for all citizens of this country. Mr. Martinez could not have found better source material. I give "The Myth of the Free Market" several points of excellence, as it were, for that reason alone.

Mr. Martinez's thorough research and clear explanations make it clear that the "free market" cannot exist without government intervention, and is in fact dependent on government laws and regulations to operate. The author successfully shatters the magical thinking that Milton Friedman and other neo-conservatives expound. The author makes it clear as to why Mr. Smith's and Mr. Friedman's concept of "the invisible hand" is nonsense. Messrs. Friedman and Smith may as well be fluttering about in a pink tutus casting "invisible hand" fairy dust as to think the "free market" has any basis in reality.
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4 of 5 people found the following review helpful By Keith E. Taylor II on June 15, 2012
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As a history nerd, it comes with no shock that this book is right on the money with much of what has happened in the past within history and the way nations built their economies leading to the eventual theory of a free market. This book reflects a long road of what the shape and form of the economy has become with favors, mutual agreements, cartels, and supply and demand theories forced to be put in context. A strait line through the economy is good, it makes sense, but in truth there are a lot more outlets that the money travels through such as OPEC, IMF, and obviously the government. Wall street, banks, and insurance companies are no longer split which allows things like the financial collapse of 2008. At the end of 2012 there is a possibility of an economic tsunami with the debt ceiling, tax increases, and little regulation to stop the same thing from happening again from 2008. This book expresses the historical significance of Keynes and Freedmen while expressing a concerned opinion. Mark Martinez is not afraid to defend himself or his book, and when it comes down to it people have a hard time challenging his points as most of it is backed up in both history and practice.
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