In this highly acclaimed, provocative book, Robert Kuttner disputes the laissez-faire direction of both economic theory and practice that has been gaining in prominence since the mid-1970s. Dissenting voices, Kuttner argues, have been drowned out by a stream of circular arguments and complex mathematical models that ignore real-world conditions and disregard values that can't easily be turned into commodities. With its brilliant explanation of how some sectors of the economy require a blend of market, regulation, and social outlay, and a new preface addressing the current global economic...

""An interesting and challenging critique of the United States economy and its institutions.""--New York Times ""A stinging and brilliant attack on the conventional wisdom of the economics profession.""--Washington Post In The Economic Illu

Here is a book that explores what American economic policy should and can be--a superb yet controversial interpretation of the relation between domestic economic health and international politics, and of how we should set priorities to maintain our economy and our competitive vigor in the future.

A leading social critic recounts capitalism's finest hour and shows us how we might achieve it once again.