Michael Perelman
The Invisible Handcuffs of Capitalism reviewed in Sacramento News & Review
Michael Perelman, economics professor at CSU Chico, uses the Greek legend of Procrustes, who sadistically shortened or stretched unwary travelers to fit them on his iron bed, as a metaphor for a system that cruelly disciplines workers. In The Invisible Handcuffs of Capitalism: How Market Tyranny Stifles the Economy by Stunting Workers, Perelman shows how economic theory marginalizes workers and makes a robust case against the idea that competitive markets create freedom.… | more |
The Invisible Handcuffs of Capitalism
How Market Tyranny Stifles the Economy by Stunting Workers
Mainstream, or more formally, neoclassical, economics claims to be a science. But as Michael Perelman makes clear in his latest book, nothing could be further from the truth. While a science must be rooted in material reality, mainstream economics ignores or distorts the most fundamental aspect of this reality: that the vast majority of people must, out of necessity, labor on behalf of others, transformed into nothing but a means to the end of maximum profits for their employers. The nature of the work we do and the conditions under which we do it profoundly shape our lives. And yet, both of these factors are peripheral to mainstream economics.… | more |
The Creation of the Free Market Mythology
Most economic theory assumes a pure capitalism of perfect competition. This book is a penetrating critique of the rhetoric and practice of conventional economic theory. It explores how even in the United States—the most capitalist of countries—the market has always been subject to numerous constraints.… | more |