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The Failure of Laissez Faire Capitalism and Economic Dissolution of the West by [Roberts, Paul Craig ]
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The Failure of Laissez Faire Capitalism and Economic Dissolution of the West Kindle Edition

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"The Failure of Laissez Faire Capitalism is fearless. It transcends Roberts' illustrious career and prior works of intellectual and practical analysis." NOMI PRINS

"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." MICHAEL HUDSON

"Clearly, this empirically based, theoretically challenging book is one of the most important works of our time." Johannes Maruschzik, Preface to the German Edition

Product Description

This very readable book by a distinguished economist, Wall Street Journal editor, and Assistant Secretary of the US Treasury is a major challenge both to economic theory and to media explanations of the ongoing 21st century economic crisis. The one percent have pulled off an economic and political revolution. By offshoring manufacturing and professional service jobs, US corporations destroyed the growth of consumer income, the basis of the US economy, leaving the bulk of the population mired in debt. Deregulation was used to concentrate income and wealth in fewer hands and financial firms in corporations “too big to fail,” removing financial corporations from market discipline and forcing taxpayers in the US and Europe to cover bankster losses. Environmental destruction has accelerated as economists refuse to count the exhaustion of nature’s resources as a cost and as corporations impose the cost of their activities on the environment and on third parties who do not share in the profits. This is the book to read for those who want to understand the mistakes that are bringing the West to its knees.

Product Details

  • Format: Kindle Edition
  • File Size: 722 KB
  • Print Length: 190 pages
  • Publisher: Atwell Publishing; 1 edition (Feb. 2 2013)
  • Sold by: Amazon Digital Services LLC
  • Language: English
  • ASIN: B00BLPJNWE
  • Text-to-Speech: Enabled
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  • Word Wise: Enabled
  • Enhanced Typesetting: Enabled
  • Average Customer Review: 5.0 out of 5 stars 5 customer reviews
  • Amazon Bestsellers Rank: #8,424 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Roberts is a remarkable economist who has the gift of explaining issues in very clear and lucid terms. This book should be read in conjunction with Chomsky's Profit over People as both books are stunning indictments of the ruinous neoliberal free market economy. Like Chomsky he has a prodigious grasp of his subject.
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As a graduate from Business School in the 1980's, I have come to question most of the macroeconomics education I received at that time and since then through my own studies. Until recently, it seemed to me that nothing made sense anymore. Reading this book answered a lot of questions for me and helped me to see what is going on in the world.

Offshoring is NOT free trade. When you understand that, as well as the reasons why offshoring was able to gain momentum to the clear detriment of Western economies, everything else begins to make sense. The only way forward, then, is a complete overhaul of our systems of governance including legal and financial systems. Without understanding what is needed to maintain an orderly, productive socioeconomic system, how can we hope to preserve the abundance we have created in the West moving forward.

Paul Craig Roberts has an impeccable academic and public service background. Most notably he was the Assistant Secretary of the Treasury under President Ronald Reagan. He was one of the first supply-side economists and is noted for thinking outside the box. He lived and worked in Russia (Soviet Union) and is one of the few political economists who understands the current geopolitical-economic situation from a high level.

The Failure of Laissez Faire Capitalism is written concisely and clearly such that an intelligent layperson would grasp the concepts easily. It is also a properly executed book in the academic style with abundant references to support all aspects of the author's propositions. It is particularly helpful that he references other clear-thinking private and public sector intellectuals thus giving a strong foundation for further research on these subjects. Readers who enjoy the work of Michael Hudson, Nomi Prins, John Williams (ShadowStats), Dmitri Orlov, and other like-minded individuals will find this book very useful.
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Dr. Paul Craig Roberts is one of a kind, he raises points that nobody speaks of and are so obviously correct. I would recommend this book to everyone who wants to know the truth of what is really going on in America - sadly, that's not many people.
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If you wanna know where we are (in terms of finance / economy / government), this book will tell you most of what you need to know. It provides a great overview of how the US went from the top of the world -- in the few post-war decades -- to its current precarious position teetering on the edge of collapse. PCR has been around for a long time and seen a lot, and he presents his unflinching vision in clear and easy-to-understand prose.
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This book should be a must read in every school.. It teaches you more about fiances more than my school ever did.
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