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Natural Instability Of Markets.

Author: Michael Perelman
Publisher: New York : Palgrave Macmillan, 1957.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
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  Read more...
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Genre/Form: Electronic books
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Michael Perelman
ISBN: 9780312292621 0312292627
OCLC Number: 437187215
Description: 1 online resource (205 pages)
Contents: Cover; Contents; Acknowledgments; Preface; Chapter 1 How Economists Work: A Prelude to the Main Theme of This Book; Chapter 2 The Imaginary World of Economic Equilibrium and Stability; Chapter 3 Cycles: Stability Within Instability; Chapter 4 Instability: Keynes, Schumpeter, Polanyi, and the Passenger Pigeon; Chapter 5 Competition in Biology and Competition in Economics; Chapter 6 Competition: The Hidden Costs of the Invisible Hand; Chapter 7 Managing Competition; Chapter 8 A Thumbnail Sketch of the Evolution of Competition in the U.S. Economy; Chapter 9 Inertia; Chapter 10 Loose Threads. ConclusionReferences; Index.

Abstract:

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.

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