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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.
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Table of contents (9 chapters)
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Front Matter
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Back Matter
Authors and Affiliations
Bibliographic Information
Book Title: The Pathology of the US Economy
Book Subtitle: The Costs of a Low-Wage System
Authors: Michael Perelman
DOI: https://doi.org/10.1007/978-1-349-24329-7
Publisher: Palgrave Macmillan London
eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)
Copyright Information: Palgrave Macmillan, a division of Macmillan Publishers Limited 1996
Softcover ISBN: 978-0-333-65023-3Published: 27 November 1995
eBook ISBN: 978-1-349-24329-7Published: 27 July 2016
Edition Number: 1
Number of Pages: XIV, 252
Topics: International Economics, Political Science, Macroeconomics/Monetary Economics//Financial Economics