Table of Contents
Acknowledgments xi
Introduction xiii
1 Myth 1: The Trade Deficit Reflects U.S. Competitiveness 1
2 Myth 2: The Current Account Deficit Drives the Dollar 21
3 Myth 3: You Can’t Have Too Much Money 39
4 Myth 4: Labor Market Flexibility is the Key to U.S. Economic Prowess 57
5 Myth 5: There Is One Type of Capitalism73
6 Myth 6: The Dollar’s Privileged Place in the World is Lost 91
7 Myth 7: Globalization Destroyed American Industry 111
8 Myth 8: U.S. Capitalist Development Prevents Socialism 133
9 Myth 9: The Weak U.S. Dollar Boosts Exports and Drives Stock Markets 155
10 Myth 10: The Foreign Exchange Market is Strange and Speculative 173
11 Summary and Some Thoughts on the Way Forward 191
Bibliography 203
Index 206
