ENGLISH

The Pathology of the US Economy: The Costs of a Low-Wage System

By Michael Perelman

Book information

Publisher
Springer
Year
2016
ISBN
1349243299, 9781349243297
Language
english
Format
PDF
Filesize
14 MB (14940845 bytes)
Pages
252\134
Topic
Economy
Time added
2022-06-02 01:45:01
American SystemCareyCivil WarDevelopmentHenryHigh WageLincolnPeshine SmithPolitical Economy

Description

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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