The Myth of the Free Market: The Role of the State in a Capitalist Economy
| By: | Mark A. Martinez |
| Publisher: | Lynne Rienner Publishers |
| Print ISBN: | 9781565492677 |
| eText ISBN: | 9781626373716 |
| Edition: | 1 |
| Format: | Page Fidelity |
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Mark Martinez reveals how the myth of the "invisible hand" has distorted our understanding of how modern capitalist markets developed and actually work. Martinez draws on historical cases to make it clear that political processes and the state are not only instrumental in making capitalist markets work, but that there would be no capitalist markets or wealth creation without state intervention. Then bringing his story up to the 2008 market collapse and its immediate aftermath, he relates on how the seeds of unprecedented government intervention in the financial markets were sown in the past.