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The Pathology of the US Economy

The Costs of a Low-Wage System

  • Book
  • © 1996

Overview

Authors:
  1. Michael Perelman

    1. California State University, USA

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Table of contents (9 chapters)

  1. Front Matter

    Pages i-xiv
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  2. The Setting of the Decline

    • Michael Perelman
    Pages 1-29

  3. The Attack on Labour Accelerates the Economic Decline

    • Michael Perelman
    Pages 30-57

  4. Government and the Decline

    • Michael Perelman
    Pages 58-92

  5. The Role of the Military in the Economic Decline

    • Michael Perelman
    Pages 93-108

  6. Keynesian Policy, Monetary Policy, and the Weakening of Competition

    • Michael Perelman
    Pages 109-144

  7. Finance, the Falling Rate of Profit and Economic Devastation

    • Michael Perelman
    Pages 145-171

  8. De-industrialization and the Rise of the Service Economy

    • Michael Perelman
    Pages 172-191

  9. High Wages, Enlightened Management, and Economic Productivity

    • Michael Perelman
    Pages 192-220

  10. Conclusion

    • Michael Perelman
    Pages 221-221

  11. Back Matter

    Pages 222-252
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Keywords

About this book

This book demonstrates the calamitous consequences of the current US policies that follow a Haitian model of low wage development. The author makes his case by describing the decades-long unfolding of the current crisis in the US economy following the post-war boom. From the beginning, the boom contained the seeds of its own destruction. As the boom disintegrated, attempts to stabilize the economy made matters even worse. Efforts at profit maximization reinforced the problems. For example, attacks on both labour and government reinforced the decline. This work warns against framing policies predicated upon either Keynesian or neo-classical theory since both suffer from an unwarranted belief that a market economy can avoid crisis with appropriate economic management.

Authors and Affiliations

  • California State University, USA

    Michael Perelman

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