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Free Market by Jacob Soll (Hardback)
£28.00
Available
Product Ref. (e.g. ISBN, SKU)
9780465049707
Published:
29 Sep 2022
Format:
Hardback
Number of pages:
336 pages
Dimensions:
236x156x34mm
Weight:
0.540kgs
Author:
After two government bailouts of the US economy in less than twenty years, free market ideology is due for serious reappraisal. In 'Free Market', Jacob Soll details how we got to this current crisis, and how we can find our way out by looking to earlier iterations of free market thought. Contrary to popular narratives, early market theorists believed that states had an important role in building and maintaining free markets. But in the eighteenth century, thinkers insisted on free markets without state intervention, leading to a tradition of ideological brittleness. That tradition only calcified in the centuries that followed. Tracing the intellectual evolution of the free market from Cicero to Milton Friedman, Soll argues that we need to go back to the origins of free market ideology in order to truly understand it - and to develop new economic concepts to face today's challenges.
After two government bailouts of the American economy in less than twenty years, free market thought is due for serious reappraisal. Free Market: The History of an Idea shows how the idea became so powerful, why it succeeded, and why it has failed so spectacularly. In 1990, the G7 Countries enjoyed 70 percent of world GDP. In the face of the collapse of the Soviet Union, it was supposed to be a story of the success of free markets. However, in the past thirty years, that number has dropped by half, and Asia has emerged as a major motor of world economic growth. Today, state-run China is the second biggest economy on earth, and tiny Singapore, with its state-owned companies, has become a new model of wealth creation. In other words, Milton Friedman's free market dogma, that only private companies can create wealth and that states hamper it, has not proved very clearly to be untrue. This book shows how we got to the current crisis of free market thought, and suggests how we can find our way out. Contrary to popular free market narratives, early market theorists believed that states had an important role in building and maintaining free markets. But in the eighteenth century, some free-market thinkers began insisting only pure free markets, without state intervention, could work. A tradition of free-market ideological brittleness emerged, and it has led orthodox free market economics to some spectacular failures. It is a paradox that an economic theory rooted in the idea of competition, adaptation and evolution, has refused to follow its own precepts. This book shows that we need to go back to the origins of free market thought in order to understand its dynamism, as well as its inherent weaknesses, and to develop new economic concepts to face the staggering challenges of the twenty-first century.
About the Author: Jacob Soll is university professor and professor of philosophy, history, and accounting at the University of Southern California. The author of The Reckoning and The Information Master, Soll is the recipient of many prestigious awards, including the MacArthur "Genius" grant. He lives in Los Angeles.
| Number of pages | 336 |
|---|
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| First Item | 2 Items & Over | |
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| UK | £3.75 | £5.00 |
| EU | £15.00 | £30.00 |
| USA & Canada | £30.00 | £50.00 |
| Rest of the World | £45.00 | £60.00 |
| Collect in Store | free | free |
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