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Michael Perelman

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Railroading Economics: The Creation of the Free Market Mythology Paperback – June 1, 2006

by Michael Perelman (Author)

3.9 5 ratings

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Most economic theory assumes a pure capitalism of perfect competition. This book is a penetrating critique of the rhetoric and practice of conventional economic theory. It explores how even in the United States—the most capitalist of countries—the market has always been subject to numerous constraints.
Perelman examines the way in which these constraints have been defended by such figures as Henry Ford, J. P. Morgan, and Herbert Hoover, and were indeed essential to the expansion of U.S. capitalism. In the process, he rediscovers the critical element in conservative thought—the “forgotten traditions of railroad economics”—that has been lost in the neoliberal present. This important and original historical reconstruction points the way to a discipline of economics freed from the mythology of the market.

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About the Author

Michael Perelman is professor of economics at California State University at Chico, and the author of numerous books, including Steal This Idea and Railroading Economics.

Product details

Publisher ‏ : ‎ Monthly Review Press; Annotated edition (June 1, 2006)
Language ‏ : ‎ English
Paperback ‏ : ‎ 224 pages
ISBN-10 ‏ : ‎ 1583671358
ISBN-13 ‏ : ‎ 978-1583671351
Item Weight ‏ : ‎ 11.9 ounces
Dimensions ‏ : ‎ 6.06 x 0.66 x 8.96 inches

Best Sellers Rank: #3,420,988 in Books (See Top 100 in Books)
- #1,294 in Commerce (Books)
- #1,472 in Free Enterprise & Capitalism
- #5,713 in Economic Conditions (Books)

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3.9 5 ratings

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Think Twice

A very useful history, instead of the sort of theoretical exercise ...

Reviewed in the United States on March 17, 2018

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Perelman usefully reminds us of the limits of unlimited competition and how measures to restrain its destructive aspects have been used by oligopolies to enrich themselves at the expense of the rest of us. A very useful history, instead of the sort of theoretical exercise the previous reviewer wants to peddle.

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