The Natural Instability Of Markets : Expectations, Increasing Returns, And The Collapse Of Capitalism

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Brand: Palgrave Macmillan
SKU: DADAX0312221215
ISBN : 0312221215

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As socialist states struggle to transform themselves into market economies and the United States privatizes everything from schooling to policing, the current crises in Russia and East Asia suggest that something might be amiss. In the rush to open societies to the benefits of competition, economists have overlooked the fundamental instability of competitive markets. What had seemed to be an invincible capitalist juggernaut may be reaching its apotheosis. A close look at market economies is more timely and crucial than ever. Michael Perelman argues that capitalism's victory is temporary, based as it is on an unrealistic understanding of the system’s inherent risks. He analyzes the nature and causes of crisis within a market society, and along the way, he re-examines one of capitalism’s most primary and unquestioned tenets, that the more competition there is, the better off society will be.

Author : Michael Perelman
ISBN : 0312221215
Language : English
No of Pages : 208
Edition : 1st
Publication Date : 6/12/1999
Format/Binding : Hardcover
Book dimensions : 8.55x5.74x0.87
Book weight : 0.01

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