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1 Burnside American Studies- Economy

The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too

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The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too Cover

 

Synopses & Reviews

Publisher Comments:

The cult of the free market has dominated economic policy-talk since the Reagan revolution of nearly thirty years ago. Tax cuts and small government, monetarism, balanced budgets, deregulation, and free trade are the core elements of this dogma, a dogma so successful that even many liberals accept it. But a funny thing happened on the bridge to the twenty-first century. While liberals continue to bow before the free-market altar, conservatives in the style of George W. Bush have abandoned it altogether. That is why principled conservatives — the Reagan true believers — long ago abandoned Bush.

Enter James K. Galbraith, the iconoclastic economist. In this riveting book, Galbraith first dissects the stale remains of Reaganism and shows how Bush and company had no choice except to dump them into the trash. He then explores the true nature of the Bush regime: a "corporate republic," bringing the methods and mentality of big business to public life; a coalition of lobbies, doing the bidding of clients in the oil, mining, military, pharmaceutical, agribusiness, insurance, and media industries; and a predator state, intent not on reducing government but rather on diverting public cash into private hands. In plain English, the Republican Party has been hijacked by political leaders who long since stopped caring if reality conformed to their message.

Galbraith follows with an impertinent question: if conservatives no longer take free markets seriously, why should liberals? Why keep liberal thought in the straitjacket of pay-as-you-go, of assigning inflation control to the Federal Reserve, of attempting to "make markets work"? Why not build a new economic policy based on what is really happening in this country?

The real economy is not a free-market economy. It is a complex combination of private and public institutions, including Social Security, Medicare and Medicaid, higher education, the housing finance system, and a vast federal research establishment. The real problems and challenges — inequality, climate change, the infrastructure deficit, the subprime crisis, and the future of the dollar — are problems that cannot be solved by incantations about the market. They will be solved only with planning, with standards and other policies that transcend and even transform markets.

A timely, provocative work whose message will endure beyond this election season, The Predator State will appeal to the broad audience of thoughtful Americans who wish to understand the forces at work in our economy and culture and who seek to live in a nation that is both prosperous and progressive.

Synopsis:

Now available in paperback, this timely book challenges the cult of the free market that has dominated all political and economic discussion since the Reagan revolution.andlt;Bandgt; andlt;/Bandgt;andlt;BRandgt; andlt;BRandgt;Even many liberals have felt the need to genuflect before the altar of free markets, but in andlt;iandgt;The Predator Stateandlt;/iandgt;, progressive economist James K. Galbraith suggests that, under the Bush administration, conservatives have clearly abandoned the Reagan dogma and replaced it with crony capitalism. Tax cuts for the wealthy, deregulation, and such schemes as privatizing Social Security would divert the national treasury into private hands and give rise to "The Predator State." The real economy, Galbraith argues, has never been entirely free of government support. Indeed, he says, much of our prosperity over the decades has been the result of a mix of private enterprise and public institutions, dating back to the New Deal. While conservatives have paid lip service to free markets as the solution to everything from health care to global warming, it is clear from the current banking and Wall Street upheavals that a lack of federal regulation has led to disaster. andlt;BRandgt; andlt;BRandgt;With witty insight, Galbraith makes it clear that we live in the age of predation. He sounds the warning bell, but also points the way to a more prosperous and progressive future.

About the Author

James K. Galbraith holds the Lloyd M. Bentsen, Jr., Chair in Government / Business Relations at the LBJ School of Public Affairs at the University of Texas at Austin. He holds degrees from Harvard and Yale. He studied economics as a Marshall Scholar at King's College, Cambridge, and then served on the staff of the U.S. Congress, including as executive director of the Joint Economic Committee. He directs the University of Texas Inequality Project, an informal research group at the LBJ School, is a Senior Scholar of the Levy Economics Institute, and is chair of Economists for Peace and Security, a global professional association.

Table of Contents

Preface

PART ONE
Another God That Failed

1. Whatever Happened to the Conservatives?
2. The Freedom to Shop
3. Tax Cuts and the Marvelous Market of the Mind
4. Uncle Milton's War
5. The Impossible Dream of Budget Balance
6. There Is No Such Thing as Free Trade

PART TWO
The Simple Economics of Predators and Prey

7. What the Rise of Inequality Is Really About
8. The Enduring New Deal
9. The Corporate Crisis
10. The Rise of the Predator State

PART THREE
Dealing with Predators

11. The Inadequacy of Making Markets Work
12. The Need for Planning
13. The Case for Standards
14. Paying for It

Acknowledgments
Index

Product Details

ISBN:
9781416576211
Author:
Galbraith, James
Publisher:
Free Press
Author:
Galbraith, James K.
Author:
Galbraith, James K., Professor
Subject:
Public Policy - Economic Policy
Subject:
Political Ideologies - Conservatism & Liberalism
Subject:
Economic History
Subject:
Economic Conditions
Subject:
Economic Policy
Subject:
Politics - General
Copyright:
Edition Description:
Trade Paperback
Publication Date:
20090531
Binding:
TRADE PAPER
Grade Level:
General/trade
Language:
English
Illustrations:
index
Pages:
240
Dimensions:
8.44 x 5.5 in 7.385 oz

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Related Subjects


Business » History and Biographies
Health and Self-Help » Health and Medicine » Medical Specialties
History and Social Science » Economics » General
History and Social Science » Economics » US Economy
History and Social Science » Politics » General

The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too Sale Trade Paper
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$7.98 In Stock
Product details 240 pages Free Press - English 9781416576211 Reviews:
"Synopsis" by , Now available in paperback, this timely book challenges the cult of the free market that has dominated all political and economic discussion since the Reagan revolution.andlt;Bandgt; andlt;/Bandgt;andlt;BRandgt; andlt;BRandgt;Even many liberals have felt the need to genuflect before the altar of free markets, but in andlt;iandgt;The Predator Stateandlt;/iandgt;, progressive economist James K. Galbraith suggests that, under the Bush administration, conservatives have clearly abandoned the Reagan dogma and replaced it with crony capitalism. Tax cuts for the wealthy, deregulation, and such schemes as privatizing Social Security would divert the national treasury into private hands and give rise to "The Predator State." The real economy, Galbraith argues, has never been entirely free of government support. Indeed, he says, much of our prosperity over the decades has been the result of a mix of private enterprise and public institutions, dating back to the New Deal. While conservatives have paid lip service to free markets as the solution to everything from health care to global warming, it is clear from the current banking and Wall Street upheavals that a lack of federal regulation has led to disaster. andlt;BRandgt; andlt;BRandgt;With witty insight, Galbraith makes it clear that we live in the age of predation. He sounds the warning bell, but also points the way to a more prosperous and progressive future.
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