The Natural Instability of Markets; Expectations, Increasing Returns, and the Collapse of Capitalism

As socialist states struggle to transform themselves into market economies and the United States privatizes everything from schooling to policing, the current crises in Russia and East Asia suggest that something might be amiss. In the rush to open societies to the benefits of competition, economists have overlooked the fundamental instability of competitive markets. What had seemed to be an invincible capitalist juggernaut may be reaching its apotheosis. A close look at market economies is more timely and crucial than ever. Michael Perelman argues that capitalism's victory is temporary, based as it is on an unrealistic understanding of the system's inherent risks.

Argument in Composition

Argument in Composition provides access to a wide range of resources that bear on the teaching of writing and argument. The ideas of major theorists of classical and contemporary rhetoric and argument—from Aristotle to Burke, Toulmin, and Perelman are explained and elaborated, especially as they inform pedagogies of argumentation and composition.