Wealth, Power, and the Crisis of Laissez Faire Capitalism

Hardcover | June 14, 2011

byD. 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 from its founding to the present day. Offering an extensive and in-depth critique of laissez-faire doctrine and a novel reformulation of the work of American System writers such as Daniel Raymond, Henry Carey, and Thorstein Veblen, author Donald Gibson traces America’s rise to global supremacy. He examines how free-market ideology and the “establishment” networks exemplified by Wall Street and the Council for Foreign Relations combined to lead us to the political and economic crises that America faces at the dawn of the twenty-first century.

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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 from its founding to the present day. Offering an extensive and in-depth critique of laissez-faire doctrine and a novel reformulation of the work of American System writers such ...

Donald Gibson is a Professor of Sociology at the University of Pittsburgh, Greensburg. He is the author of numerous articles and four other books, including Battling Wall Street: The Kennedy Presidency and Environmentalism: Ideology and Power. 

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Format:HardcoverDimensions:304 pages, 8.5 × 5.51 × 0.04 inPublished:June 14, 2011Publisher:Palgrave Macmillan USLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230114873

ISBN - 13:9780230114876

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Table of Contents

Serving Property or Promoting the General Welfare * American System v. Smith * Emerging Oligarchy: Absentee Owners Take Control * Imperialism and the Rise of an American Oligarchy * FDR and JFK Revive the American System * Oligarchs Take Over Foreign Policy * Oil, the IMF, and the Free Trade Imperialism Offensive * Bush, Laissez Faire, and Free Trade Imperialism * Laissez Faire at Home * An Oligarchy That Must Change and Can’t Change

Editorial Reviews

“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