Triumph of the Market: Essays on Economics, Politics, and the Media

by Edward S. Herman

Herman shows how the "triumph" of the market in the post-Cold War world order means the further commodifications of culture, atrophying of political debate and political options, greater subservience of the media to state and corporate interests, and global polarization of income, wealth, and power.

Genres: Politics, Economics, History, Essays

290 pages, Paperback

First published October 1, 1995

About the author

Edward S. Herman was an economist and media analyst with a specialty in corporate and regulatory issues as well as political economy and the media. He was Professor Emeritus of Finance at the Wharton School of the University of Pennsylvania. He also taught at Annenberg School for Communication at the University of Pennsylvania. He received his Bachelor of Arts from University of Pennsylvania in 1945 and PhD in 1953 from the University of California, Berkeley.

-wikipedia

Reviews

[Jonathan · Rating 3 out of 5]

Approaching this book hoping for an in-depth discussion of how and why "the market triumphed" I felt a little disappointed upon completing it. To be sure, Herman produces some quality invective and makes some cogent points. But, there is rather too much rhetorical flourish and not enough depth or theory to properly address the issues involved. This book is essentially a series of short essays taken from various radical publications (chiefly Z magazine) about an assortment of issues connected to "the market" to varying degree.

Some chapters are boring rebutalls of particular books or attacks on inidivual journalists which don't make for an interesting read if you're not familiar with the subject of scorn. However, where Herman does hit the mark he makes for an entertaining and convincing read. But, if you want a serious book which really addresses the power of market forces and the consequences for humanity you'd be much better turning to something like "The Great Transformation" by Karl Polanyi. Herman's book might find a receptive audience among those who already share some of the underlying assumptions and starting points but he's unlikely to convince anybody else.