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" The natural instability of markets : "
Michael Perelman.
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BL
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| Record Number
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1045089
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b799459
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| Main Entry
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Perelman, Michael.
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| Title & Author
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The natural instability of markets : : expectations, increasing returns, and the collapse of capitalism /\ Michael Perelman.
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| Edition Statement
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1st ed.
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| Publication Statement
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New York :: St. Martin's Press,, 1999.
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| Page. NO
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xiv, 188 pages ;; 22 cm
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| ISBN
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0312221215
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: 9780312221218
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| Bibliographies/Indexes
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Includes bibliographical references (pages 167-182) and index.
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| Contents
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Acknowledgments -- Preface -- How Economists Work: A Prelude to the Main -- Theme of This Book -- The Imaginary World of Economic Equilibrium and Stability -- Cycles: Stability Within Instability -- Instability: Keynes, Schumpeter, Polanyi, and the Passenger Pigeon -- Competition in Biology and Competition in Economics -- Competition: The Hidden Costs of the Invisible Hand -- Managing Competition -- A Thumbnail Sketch of the Evolution of Competition in the US. Economy -- Inertia -- Loose Threads -- Conclusion -- References -- Index.
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| Abstract
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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. 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 reexamines one of capitalism's most primary and unquestioned tenets - the more competition there is, the better off society will be. This accessible book, garnished with plenty of examples and anecdotes, is an open-minded injection of common sense into the understanding of a capitalist society.
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| Subject
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Business cycles.
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Capitalism.
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Competition.
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Business cycles.
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Capitalism.
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Capitalisme.
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Competition.
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Compétitivité (économie politique)
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Cycles économiques.
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| Dewey Classification
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338.5/42
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| LC Classification
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HB3711.P377 1999
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