- Paperback: 224 pages
- Publisher: Monthly Review Press; annotated edition edition (June 1, 2006)
- Language: English
- ISBN-10: 1583671358
- ISBN-13: 978-1583671351
- Product Dimensions: 6 x 0.6 x 9 inches
- Shipping Weight: 10.4 ounces (View shipping rates and policies)
- Average Customer Review: 2 customer reviews
- Amazon Best Sellers Rank: #1,511,900 in Books (See Top 100 in Books)
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Railroading Economics: The Creation of the Free Market Mythology annotated edition Edition
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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.
Top customer reviews
These theories were used to fasten regulation on the American railroad industry and from there the Progressives moved on to the rest of the economy. Even after other (and in retrospect, better regarded) economists had debunked the core components of railroad rate theory, they continued to be cited long afterwards by those with a stake in the regulatory system. As for the debunking, see especially Frank Taussig's seminal 1891 article "A Contribution to the Theory of Railroad Rates" and Alfred Marshall's 1920 book Industry and Trade, 456-458.
Perelman has made a career of trying to show that economics is based on assumptions that are theoretically unsound. In this case he has resorted to ideas that in the first three decades of regulation proved themselves to be fallacious.