In this highly acclaimed, provocative book, Robert Kuttner disputes the laissez-faire direction of both economic theory and practice that has been gaining in prominence since the mid-1970s. Dissenting voices, Kuttner argues, have been drowned out by a stream of circular arguments and complex mathematical models that ignore real-world conditions and disregard values that can\'t easily be turned into commodities. With its brilliant explanation of how some sectors of the economy require a blend of market, regulation, and social outlay, and a new preface addressing the current global economic crisis, Kuttner\'s study will play an important role in policy-making for the twenty-first century. \"The best survey of the limits of free markets that we have. . . . A much needed plea for pragmatism: Take from free markets what is good and do not hesitate to recognize what is bad.\"&;Jeff Madrick, Los Angeles Times \"It ought to be compulsory reading for all politicians&;fortunately for them and us, it is an elegant read.\"&;The Economist \"Demonstrating an impressive mastery of a vast range of material, Mr. Kuttner lays out the case for the market\'s insufficiency in field after field: employment, medicine, banking, securities, telecommunications, electric power.\"&;Nicholas Lemann, New York Times Book Review \"A powerful empirical broadside. One by one, he lays on cases where governments have outdone markets, or at least performed well.\"&;Michael Hirsh, Newsweek \"To understand the economic policy debates that will take place in the next few years, you can\'t do better than to read this book.\"&;Suzanne Garment, Washington Post Book World