How the Economy Was Lost : The War of the Worlds

The US economy has disintegrated, and with it into the abyss plummet the blueprints of neoliberal economists, whose theories about "the free market" have now gone the way of medieval alchemy. No voice has been stronger, no prose more forceful, than that of Paul Craig Roberts in predicting collapse. His weekly columns in CounterPunch have won an audience of millions around the world, grateful for a trained economist who can explain lucidly how the well-being of the planet has been held hostage by the gangster elite. Now Dr. Roberts has written the shortest, sharpest outline of economics for the twenty-first century ever put between book covers. He traces the path to ruin and lays out the choices that must be made. There is the "empty world" of corporate exploitation, abetted by the vast majority of economists; or the "full world" of responsible management and distribution of our resources. Amid crisis, this is the guide you've been waiting for. **Paul Craig Roberts** was assistant secretary of the Treasury during President Reagan’s first term. He was associate editor of __The Wall Street Journal__ and has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University; and Senior Research Fellow, Hoover Institution, Stanford University. He was awarded the Legion of Honor by French President François Mitterrand and is the co-author, with Lawrence M. Stratton, of __The Tyranny of Good Intentions: How Prosecutors and Bureaucrats Are Trampling the Constitution in the Name of Justice__. Introduction 4 Part One: The Lost Economy 10 Chapter 1: The Return of the Robber Barons 11 Chapter 2: Greenspan and the Economy of Greed 17 Chapter 3: Outsourcing the American Economy: A Greater Threat Than Terrorism 22 Chapter 4: The New Face of Class War 27 Chapter 5: Empire on the Brink - Zealots Bring Disaster to America 44 Chapter 6: The Bitter Fruits of Deregulation 47 Chapter 7: Economic Treason 53 Chapter 8: How Inflation Works (or Why I Can’t Buy an Old Ferrari) 56 Chapter 9: When Greed is Rewarded:Government of Thieves 60 Chapter 10: A Nation of Waitresses and Bartenders 64 Chapter 11: Their Own Economic Reality (Or Why Even Jobs at McDonald’s Aren’t Safe) 69 Chapter 12: The Job Arbitrageurs - Partnering the Destruction of the American Economy 74 Chapter 13: No Jobs in the New or Old Economy 77 Chapter 14: The Great American Job Sell-Out 81 Chapter 15: Economists in Denial 87 Chapter 16: How the Economic News is Spun 102 Chapter 17: The Science & Technology Jobs Shortage Myth 107 Chapter 18: Shrinking the U.S. Dollar From the Inside-Out 112 Chapter 19: The Truth About High Oil Prices 118 Chapter 20 : What Uncle Sam has to Tell His Creditors 122 Chapter 21: America’s Third World Service Economy 126 Chapter 22: China is not the Problem: Offshoring and Free Market Ideology 129 Chapter 23: World Tires of Rule by Dollar 135 Chapter 24: Supermodel Spurns the Dollar 139 Chapter 25: Farewell to Old Economic Nostrums - They Can’t Save Us Now 144 Chapter 26: War Abroad, Poverty at Home 149 Chapter 27: When It’s a Clear Day and You Can’t See GM 152 Chapter 28: Why the Paulson Plan was a Fraud 156 Chapter 29: A Futile Bailout as Darkness Falls on America 159 Chapter 30: Which is Worse: Regulation or Deregulation? 167 Chapter 31: Deficit Nonchalance 172 Chapter 32: Is It Time to Bail Out of America? 178 Chapter 33: Was the Bailout a Scam? 183 Chapter 34: President of Special Interests 187 Chapter 35: Driving Over the Cliff With the Washington Morons 194 Chapter 36: When Things Fall Apart 202 Chapter 37: How the Economy was Lost 205 Chapter 38: The Economy is a Lie, Too 215 Chapter 39: As the Dollar Sinks—A Perfect Storm 220 Chapter 40: What Economy? 224 Chapter 41: The Expiring Economy 228 Chapter 42: Marx and Lenin Reconsidered 232 Chapter 43: The Rich Have Stolen the Economy 237 Chapter 44: Are You Ready for the Next Crisis? 240 Chapter 45: My “Epiphany” 245 Chapter 46: Deficits and Deregulation 255 Chapter 47: The Health Care Deceit 262 Part Two: The War of the Worlds 269 Chapter 48: Where Economics (Mainly) Succeeds 270 Chapter 49: Where Economics Fails:The Problem of Free Trade 282 Chapter 50: Is Offshoring Trade? 287 Chapter 51: Economics for a Full World 293 Chapter 52: How Real Estate Developers Get Rich by Imposing Costs on Others 299 Chapter 53: The Need for Planning 305 EBC,Converted The US economy has disintegrated, and with it into the abyss plummet the blueprints of neoliberal economists, whose theories about "the free market" have now gone the way of medieval alchemy. No voice has been stronger, no prose more forceful, than that of Paul Craig Roberts in predicting collapse. His weekly columns in CounterPunch have won an audience of millions around the world, grateful for a trained economist who can explain lucidly how the well-being of the planet has been held hostage by the gangster elite. Now Dr. Roberts has written the shortest, sharpest outline of economics for the twenty-first century ever put between book covers. He traces the path to ruin and lays out the choices that must be made. There is the "empty world" of corporate exploitation, abetted by the vast majority of economists; or the "full world" of responsible management and distribution of our resources. Amid crisis, this is the guide you've been waiting for. Paul Craig Roberts was assistant secretary of the Treasury during President Reagan’s first term. He was associate editor of The Wall Street Journal and has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University; and Senior Research Fellow, Hoover Institution, Stanford University. He was awarded the Legion of Honor by French President François Mitterrand and is the co-author, with Lawrence M. Stratton, of The Tyranny of Good Intentions: How Prosecutors and Bureaucrats Are Trampling the Constitution in the Name of Justice . The US economy has disintegrated, and with it into the abyss plummet the blueprints of neoliberal economists, whose theories about the free market have now gone the way of medieval alchemy. No voice has been stronger, no prose more forceful, than that of Paul Craig Roberts in predicting collapse. His weekly columns in CounterPunch have won an audience of millions around the world, grateful for a trained economist who can explain lucidly how the well-being of the planet has been held hostage by the gangster elite. Now Dr. Roberts has written the shortest, sharpest outline of economics for the twenty-first century ever put between book covers. He traces the path to ruin and lays out the choices that must be made. There is the empty world of corporate exploitation, abetted by the vast majority of economists; or the full world of responsible management and distribution of our resources. Amid crisis, this is the guide you've been waiting for. Paul Craig Roberts was assistant secretary of the Treasury during President Reagan's first term. He was associate editor of The Wall Street Journal and has held numerous academic appointments, including the William E. Simon Chair, Center for Strategic and International Studies, Georgetown University; and Senior Research Fellow, Hoover Institution, Stanford University. He was awarded the Legion of Honor by French President Francois Mitterrand and is the co-author, with Lawrence M. Stratton, of The Tyranny of Good Intentions: How Prosecutors and Bureaucrats Are Trampling the Constitution in the Name of Justice The U.s. Economy Has Disintegrated, And With It Into The Abyss Plummet The Blueprints Of Neoliberal Economists. Roberts Predicted The Collapse ... And Has Written An Outline Of Economics For The Twenty-first Century ... He Traces The Path To Ruin And Lays Out The Choices That Must Be Made ...--page 4 Of Cover. Pt. 1. The Lost Economy -- Pt. 2. War Of The Worlds. Paul Craig Roberts. Includes Index. An outline of how the economy works by an insider-turned-outsider. Roberts breaks down how our recent recession came about, how deep it will get, and how we can avoid one in the future.