- 2009/319 pages
- A Kumarian Press Book
Also of interest: A Civil Republic: Beyond Capitalism and Nationalism by Severyn T. Bruyn
The Myth of the Free Market:
The Role of the State in a Capitalist Economy
Hardcover: $72.00
ISBN: 978-1-56549-284-4
Paperback: $28.50
ISBN: 978-1-56549-267-7
Ebook: $28.50
ISBN: 978-1-62637-371-6
Mark Martinez reveals how the myth of the "invisible hand" has distorted our understanding of the development and actual performance of modern capitalist markets.
Martinez draws on historical cases to make it clear that political processes and the state are not only instrumental in making capitalist markets work, but that there would be no capitalist markets or wealth creation without state intervention. Then bringing his story up to the 2008 market collapse and its immediate aftermath, he relates how the seeds of unprecedented government intervention in the financial markets were sown in the past.
Martinez draws on historical cases to make it clear that political processes and the state are not only instrumental in making capitalist markets work, but that there would be no capitalist markets or wealth creation without state intervention. Then bringing his story up to the 2008 market collapse and its immediate aftermath, he relates how the seeds of unprecedented government intervention in the financial markets were sown in the past.