by Routledge

    Most economic theory assumes a pure capitalism of perfect competition. Even when it is recognized that this does not exist, many politicians and captains of industry pay a great deal of lip service to the idea of the market. This book goes beyond the rhetoric to explore how, even in the United States, the most capitalist of all countries, the market has always been subjected to numerous constraints. As well as discussing the opinions of economists, the book looks at the opinions and practices of figures such as Henry Ford, J.P. Morgan, and Herbert Hoover.

    Introduction

    1. The End of Economics

    2. Economic Theory and the Historical Increase of Fixed Capital

    3. Railroads and the Increase in Fixed Capital

    4. The Role of Finance

    5. Industry Takes Command: The rise of welfare capitalism

    6. Modern Finance Capital

    7. The Depression

    8. The Golden Age

    9. Conclusion

    Biography

    Michael Perelman

    "Perelman's  ...  historical framework - utilizing  real  events and real  persons,  inside and outside  the economics profession - is intriguing." Review of Social Economy