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#Laissezfairecapitalism #Productionoffshoring #Financialization #Environmentalexternalities #Steadystateeconomics #TheFailureofLaissezFaireCapitalismandEconomicDissolutionoftheWest
The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is a work of political economy by Paul Craig Roberts, first published in 2013. Roberts, a former United States Treasury official and economic journalist, examines the gap between free market rhetoric and the institutional realities of modern capitalism. The book argues that policies commonly defended as laissez faire have not produced broadly shared, durable prosperity in Western economies. Instead, Roberts links economic weakening to globalization, the relocation of productive capacity abroad, financial power, declining labor prospects, and the failure to treat environmental damage as an economic cost. Its purpose is both diagnostic and revisionist: it challenges familiar explanations of the post financial crisis economy and questions assumptions associated with deregulation, unlimited growth, and orthodox market efficiency. Written for informed general readers as well as students of policy, the book combines historical context with criticism of prevailing economic ideas. It is not a neutral survey of competing schools; it is a sustained argument that prevailing policy frameworks obscure structural problems in the Western economic model.