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Michael Perelman teaches economics at California State University, Chico. He has published 19 books, including, The Confiscation of American Prosperity, Railroading Economics, Manufacturing Discontent, The Perverse Economy, and The Invention of Capitalism.
Have you considered updating “The Pathology of the US Economy”?
It’s an excellent book, but unfortunately most of the information is only current up to the late 80s or early 90s, and so many economic changes have happened since that time.
I’m particularly interested in stats on:
* Changes pertaining to the section on Adding Insult ot Injury (p. 46-48): wage cuts/freezes, hours of work, job security, part-time labor, health insurance coverage, etc.
* Changes in productivity and wages (Table 2.1, p.56)
* Decreases in net social wage (p. 66)
* Stock market trades and receipts (p. 167)
Thanks.
David Ward
P.S. If you reprint or update the book, I will offer myself as a copy editor. I noticed many words left out, spelled wrong, repeated, etc. in the version I have (St. Martins Press, 1996, ISBN: 0-312-12685-9)
I have updated it.
The Pathology of the U.S. Economy Revisited: The Intractable Contradictions of Economic Policy (NY: Palgrave, 2001).
Professor Perelman,
Your name came up on the discussion of heterdox economics at talkingpointsmemo book club and I thought I might run an idea past you. A friend talked me into writing an essay on some observations of mine, http://www.exterminatingangel.com/index.php?option=com_content&task=view&id=203&Itemid=118, and I thought I might check around to see if they might be of interest.
The essential point is that for all intents and purposes, money functions as a form of public utility, yet we continue to think of it as private property. Since it evolved out of barter and for much of history was minted out of precious metals, this assumption is logical, but the fact is that with its value being a function of trust in government accountability and the taxpayer and a healthy economy being the basis of this trust, it now has more in common with a public roads system. If the paradigm were of money as public utility, then wealth would be as much a responsibility to the larger economy, as it is a right to direct that economy. When money is viewed as just another commodity, there is little obligation beyond the Darwinian imperative to maximize one’s position and taxes are considered a form of extortion. The free market is an ecosystem within the belly of a healthy society and money as public utility would clarify that relationship, rather then the current assumption that the market is an ecosystem in which societies are little more then prey.
Regards,
John Merryman
Professor, I agree with much of your stance on the transition of wealth being a highly orchestrated planned transfer of wealth, monetization of politics and corporate control of media to exert this dominance over the mass working class. Since we must now deal with these issues along with global terrorism, energy crisis and addiction to fossil fuels, global warming, lack of affordable and comprehensive health care, trade deficits and a balanced national budget.
How would you create a fair and non-punitive tax system to deal with our great hole we are in now? What fiscal policies should also be changed to address these issues now? What should the next president do in the first 100 days?