The recent financial crisis laid bare many of the assumptions behind market liberalism--the theory that market-based solutions are always best, regardless of the problem. For decades, their advocates dominated mainstream economics, and their influence created a system where an unthinking faith in markets led many to view speculative investments as fundamentally safe. The crisis seemed to have killed off these ideas, but they still live on in the minds of many--members of the public, commentators, politicians, economists, and even those charged with cleaning up the mess. In Zombie Economics, John Quiggin explains how these dead ideas still walk among us--and why we must find a way to kill them once and for all if we are to avoid an even bigger financial crisis in the future.
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Why is the United States the only advanced capitalist country with no labor party? This question is one of the great enduring puzzles of American political development, and it lies at the heart of a fundamental debate about the nature of American society. Tackling this debate head-on, Robin Archer puts forward a new explanation for why there is no American labor party--an explanation that suggests that much of the conventional wisdom about "American exceptionalism" is untenable. "In an intriguing and elegant exposition of comparative history, Archer uses the labour politics of the 1890s in both countries to illustrate the similarities and the differences between the two societies . . . the innovative quality of Archer's approach, together with the clarity of its exposition, will unsettle established opinions and rejuvenate what has been a venerable debate into an altogether fresher controversy."--Michael Foley, Times Higher Education
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