---
product_id: 8722155
title: "The Failure of Laissez Faire Capitalism Paperback – June 1, 2013"
brand: "paul craig roberts"
price: "A$46"
currency: AUD
in_stock: true
reviews_count: 8
url: https://www.desertcart.com.au/products/8722155-the-failure-of-laissez-faire-capitalism-paperback-june-1-2013
store_origin: AU
region: Australia
---

# The Failure of Laissez Faire Capitalism Paperback – June 1, 2013

**Brand:** paul craig roberts
**Price:** A$46
**Availability:** ✅ In Stock

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- **What is this?** The Failure of Laissez Faire Capitalism Paperback – June 1, 2013 by paul craig roberts
- **How much does it cost?** A$46 with free shipping
- **Is it available?** Yes, in stock and ready to ship
- **Where can I buy it?** [www.desertcart.com.au](https://www.desertcart.com.au/products/8722155-the-failure-of-laissez-faire-capitalism-paperback-june-1-2013)

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## Customer Reviews

### ⭐⭐⭐⭐⭐ 







  
  
    One of the most important books of the modern era
  

*by S***M on Reviewed in the United States 🇺🇸 on September 1, 2013*

Dr. Roberts is perhaps the best qualified person in America to write this essay on the failures of our current economic system.  Earning his PhD in Economics from the University of Virginia, he was Assistant Secretary of the Treasury in the Reagan Administration, a Senior Fellow at the Hoover Institute (Stanford) and associate editor to the Wall Street Journal.As a life long Republican and Conservative, he is also uniquely positioned to credibly deconstruct the economic sacred cows that underpin the domestic policies of the last four administrations.Dr. Roberts is more than an economist - he is a philosopher, a journalist, a keen student of history, and a man passionately concerned about American and its future.The first third of this book describes the shortcomings of classic economic theory in rigorous detail, but without drowning us in technical jargon. Included are an introduction to the history of economics and how we got to where we are today and the major players of interest to us as modern Americans. He neatly takes apart the arguments and assumptions of the current crop of yes-men and true believers that dominate the field today. The writing is concise and understandable to the average college educated American. The subject may seem dry and uninteresting but pay attention class - THIS STUFF IS IMPORTANT!! These dry as dust theories affect almost every aspect of our lives and command the fate of nations!  Consider the Russian Revolution of 1917 and the rise of modern communism and all the pain and suffering that it caused around the world - all that flowed from an economic theory. When the economic theories behind government actions and policies are wrong, those government policies can be hugely destructive - and they are in fact wrecking the United States!The second part of the book; titled "The New Dispossession" shows us the damage these flawed policies have already caused in lost jobs and lost homes and a blighted futures. But then Dr. Roberts goes beyond economic theory to examine other destructive trends of less obvious origins.Americans have to be wondering what's going on?  Have our leaders suddenly forgotten the difference between good and evil?  It's almost as if the government has declared war against their own citizens.  The middle class is being destroyed; the government is allowing the looting of the entire nation to benefit a tiny minority of the super rich. The word Banksters describes parts of this upside down Robin Hood activities. The government is become the shameless lackey of giant corporations and the super rich - there is hardly a pretense of its role to protect the citizens.  The Robber Barons have returned. Additionally the poisonous doctrine of security at any price has allowed the shredding of our Constitution and eroded vitally important civil liberties. A consolidated and co opted press says nothing - in fact acts as lap dog and attack dog for the powers that be.Dr. Roberts shows us over and over that the establishment has been deceiving us for years; about almost everything - outsourcing of jobs is good for America; we don't need those restrictive laws - we're the good guys. Some Banks are too big to fail and their big executives are too important to indict and go on trial for stealing us blind. Trust us, we'll protect you (especially if you have a 7 figure income -or better).The People can not be aroused to action unless they know what is really going on.  Do they want their children to live in a Third World Nation?  Do they want a much lower standard of living for 95 % of Americans while the rich get ever richer?One of the many facts quoted "during the previous ten years, the US lost 54,621 factories and manufacturing employment fell by 5 million" This destruction of American's vital manufacturing core has been caused by outsourcing. Now here comes the next step; Insourcing - the use of H1b visas to replace American professional workers with lower paid foreign workers.What will that leave as jobs for our children's children - bartenders, cooks, waitresses, and maybe health aides for the elderly?Dr. Roberts lays it all out for us in all its evil glory in the second part of the book.The third part deals with the debt crisis in Europe and explains the historical and political implications of this mess. "The new president of the European Central Bank is Mario Draghi - the former Vice Chairman and Managing Director of Goldman Sachs International" . What a coincidence !Finally there is a nice appendix with lots of interesting graphs from John Williams at shadowstats.com (where people go when they want the truth in statistics).Our people deserve better but they must demand it.  The lust for power and greed knows no bonds - only an awakened electorate can take back this country from the corrupt officials and crooks that are now running things. Buy several copies of this book and give them to your friends and family members.

### ⭐ 







  
  
    Everybody is wrong, and probably evil, except Paul Craig and his acolytes
  

*by I***R on Reviewed in the United States 🇺🇸 on May 15, 2014*

I am giving this book one star because there doesn't seem to be a lower rating available.  I bought this book (to my regret) because the title suggested it was of a subject that concerns me.  I soon learned that Craig is mad about everything, and most people--at least those who don't agree with him.  Early on I noted that he was given to quite sweeping assertions for which I would have liked some support.  But I soldiered on because most of what he was saying seemed right to me, and he has, after all, a noted economist..Then he moved to a quite good discussion of how "external costs," including such factors as environmental degradation, don't 't get adequately reflected by the a capitalist  cost and price structure.  A fair point, although he might have mentioned that the ecological damage in Russia and Eastern Europe was far worse than anything in the U.S. or West Europe.  But then he launched into an attack on genetically modified foods, arguing that the health threats such foods present aren't being accurately taken into account.  This is a topic about which I have read a bit, and knew that, at the very least, his contentions were arguable,if not flat wrong;  and Doctor Huber, whom he seems to regard as the ultimate authority, is at best controversial.  Suddenly the ex cathedra tone if the book  rang hollow.  Surely there are generally accepted examples of external costs that would have been far better to discuss.  Craig's dragging this into this book makes it clear that he wants to use whatever expertise he may have as an economist, to support arguments about matters as to which he has no credentials.But rather than just throwing the book aside I skimmed through to see if there was some better material later on.  Some pages on I ran across a long discussion of why Russians will be better able than Americans to survive the deluge he predicts is coming.  Among the benefits of being a Russian is that these lucky people live (or would that be exist?)  in government apartments which are pretty awful, but as a renter you don't have to worry about your place getting foreclosed out from under you.  He doesn't mention that you can get thrown in jail for annoying VladimirNot reassuring, but I continued on, until I came across a mention of the attack on the Twin Towers on 9/11. which features a lengthy footnote coyly noting that "more than one-third of the US population is perplexed that a handful of stateless terrorists could outwit" all the intelligence agencies,."  and generally infers, very broadly, that it was all pat of plot by the US government to take over.  That's when I gave up, figuring I had better things to do than read a book that can offer arguments like this.One can only wonder why a man with a subject of great interest, in a field of his acknowledged expertise, would jeopardize his credibility, and his reader's time, by offering wildly controversial observations like these.  Their only effect is to cast doubt on everything he says.

### ⭐⭐⭐⭐ 







  
  
    A Must Read
  

*by M***T on Reviewed in the United States 🇺🇸 on May 10, 2013*

I recommend this book to anyone who wants to understand how we as a society got to where we are now, both economically and politically.  This a well documented exposition of how we went from being a democracy to a kleptocracy in the few short decades since Nixon closed the "gold window" in 1971.  The wealth is now systematically transferred from the 99.9% to the .1%.  Political structures have been implemented to undermine the constitution so the banksters will be able to defend themselves with police and military might should the people get fed up with the ongoing theft.  He spends a lot of time documenting how globalization has intentionally off-shored a large portion of manufacturing and other high tech jobs and work visa programs have been implemented so that foreign workers can come in and under cut American workers to improve the profits for corporations.  The only segments of the work force that are largely immune are waiters, bartenders, retail clerks, and some health care providers.  The informed reader will already be aware of most of these trends, but Roberts provides detail to fill in the blanks on how it has been accomplished so seamlessly, with nary a whimper from the public.  They continue to tell us the economy and the jobs picture is improving.  What they don't tell us is that the middle class is being gutted and the income disparities continue to widen with each passing year.  I think all Americans should read this book as a civic duty.

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