PAPERBACK EDITION THE FAILURE OF LAISSEZ FAIRE CAPITALISM AND ECONOMIC DISSOLUTION OF THE WEST Towards a New Economics for a Full World Paul Craig Roberts ISBN: 978-0-9860362-5-5 $18.95 192 pp. 2013 FOR OVERSEAS ORDERS FOR BULK ORDERS 50% DISCOUNT PLUS SHIPPING |
"Once a land of opportunity, America is being polarized by globalism into rich and poor. The denial of this reality has become an art form for economists." PAUL CRAIG ROBERTS |
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“In his inimitable way, Roberts describes how the rhetorical patter talk about free- markets is a cover story for the horror of an extractive asset-stripping operation by publicly-supported private banks and the governments that they control that impoverishes people and the environment. He shows that unrealistic assumptions made by free-trade ideologues have led to the “New Dispossession” and a political and economic race to the bottom, applauded as a success story by junk economists, who ignore the reductions in living standards and rise in environmental instability. Roberts describes how Germany’s economic surplus is being used to serve private European financial predators, and how the highly touted “foreign investment in America” consists of the use of credit and trade surpluses that foreign countries have with the import-dependent US to finance the foreign purchase of the US economy, rather than to provide new capital formation that would re-employ Americans dispossessed by jobs offshoring.” MICHAEL HUDSON “The Failure of Laissez Faire Capitalism, is fearless. It transcends Roberts’ illustrious career and prior works of intellectual and practical analysis. We are at the crossroads of a crumbling world where both policies and ideologies have failed. Roberts shows the dangers of clinging to the idea that markets are free and to the belief that unrestrained and unregulated capitalism is positive. Jobs offshoring destroyed middle class prospects, and financial deregulation fostered a rapacious banking industry that has removed itself from market discipline and threatens Western economies with collapse. Roberts’ conclusions are sobering, his solutions bold, his book a compelling gift.” NOMI PRINS |
REVIEWS Roberts "is obviously not a socialist. So when he says that free market approaches have failed, and it’s time for governments to jump back into economies in a big way, he must have some compelling reasons." TruthJihad reviews "Roberts can be as “elegant” as a mathematical proof, and as down-to- earth, colloquial, no-B.S. as a man who has walked the windy labyrinths of power, observing closely, “testing axioms on the pulses,” and finding his own way to what works—and to Truth. Economics may be the “gloomy science” for most of its glum practitioners, but in Roberts’ humanist hands, it’s a scalpel to carve order from disorder—to framework the challenges of our precarious, modern, globalized world; to alert us to the dangers we face now, and the even graver threats ahead if we cannot restore real democracy, moral sensibility and rational balance." Gary Corseri, The Smiling Chimp "Roberts’ The Failure of Laissez Faire Capitalism offers a persuasive and serious indictment of US economic policy." Walter Gulick, Polanyisociety.com |
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