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Wealth, Power, and the Crisis of Laissez Faire Capitalism, by D. Gibson
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This forcefully argued book offers a provocative picture of the political, intellectual, and economic forces that have shaped the history of the United States, offering an extensive and in-depth critique of laissez-faire doctrine and a novel reformulation of the work of American System writers, Gibson traces America's rise to global supremacy.
- Sales Rank: #2819090 in Books
- Published on: 2011-06-15
- Released on: 2011-06-15
- Original language: English
- Number of items: 1
- Dimensions: 8.58" h x .90" w x 5.72" l, 1.05 pounds
- Binding: Hardcover
- 303 pages
Review
"This is a masterful book. Gibson deftly outlines the current debate over whether government should play a role in promoting economic growth and advancing the general welfare, and traces it to fundamental ideological divides among America s founding statesmen. His critique of the laissez-faire model that now dominates U.S. political thought is both passionate and persuasive." - Kitty Calavita, Chancellor s Professor Emerita, University of California Irvine, and author of Big Money Crime: Fraud and Politics in the Savings and Loan Crisis
About the Author
DONALD GIBSON is Professor in the Department of Behavioral Sciences at the University of Pittsburgh, Greensburg, USA.
Most helpful customer reviews
0 of 0 people found the following review helpful.
A timely and critically important work that should be required reading for every member of Congress and the President especially
By Rafiq
What I most liked about this this book is the carefully researched and explained difference between the Anglo American political economic tradition and the distinctly American political economic tradition developed in large measure by Alexander Hamilton. Unfortunately as explained in the book, it is the former which has come to recently dominate our institutions and serve as a guide for policy making, to our national detriment while the latter, has been increasingly non existent as an rational framework for developing the human and material resources of the nation. Essentially, the book clearly presents the choice between an unsustainable commitment to Anglo American imperialism based on laissez faire doctrines of Locke and Smith for the benefit of a small private investor class at the expense of the general welfare of the population as a whole, or a rapid, vigorous and uncompromising return to the republican ideals, democratic institutions and economic policies known as the American System of Political economy led by Alexander Hamilton. The failure to make the right choice will determine whether America and the whole world by extension will move forward into an era of mutually beneficial human progress among sovereign nations or devolve in a potentially irreversible period of mutually destructive conflict as the Anglo American investor class seeks to maintain its hegemony by any means, even nuclear annihilation. In either case however, the next period will mark the end of the reign of the so called Anglo American Establishment as the sole or even dominating force in the world. In short, it is a choice between the dominance of a wealth acquiring imperial oligarchy or wealth producing nations working together for the mutual benefit of their respective populations as a whole. Or in geographical terms, it is between the the decision of the transAtlantic regions to either work with Eurasia as equal partners in the improvement of the standard of living of their respective citizens and those of the larger world, or whether the former will choose mutual annihilation and destruction rather than give up the dream of one world government (privately investor financiers controlled) supremacy.
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