Macroeconomic Theory And Its Failings

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Macroeconomic Theory And Its Failings
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Author : Steven Kates
language : en
Publisher: Edward Elgar Publishing
Release Date : 2010-01-01
Macroeconomic Theory And Its Failings written by Steven Kates and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-01-01 with Business & Economics categories.
This innovative book focuses on the current global financial crisis and the inadequacies of the economic theories being used to guide policy. In so doing, it tackles the economic theories that have been used firstly to understand its causes and thereafter to contain the damage it has brought.
The End Of Theory
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Author : Richard Bookstaber
language : en
Publisher: Princeton University Press
Release Date : 2019-04-02
The End Of Theory written by Richard Bookstaber and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-02 with Business & Economics categories.
An in-depth look at how to account for the human complexities at the heart of today’s financial system Our economy may have recovered from the Great Recession—but not our economics. The End of Theory discusses why the human condition and the radical uncertainty of our world renders the standard economic model—and the theory behind it—useless for dealing with financial crises. What model should replace it? None. At least not any version we’ve been using for the past two hundred years. Richard Bookstaber argues for a new approach called agent-based economics, one that takes as a starting point the fact that we are humans, not the optimizing automatons that standard economics assumes we are. Sweeping aside the historic failure of twentieth-century economics, The End of Theory offers a novel perspective and more realistic framework to help prevent today's financial system from blowing up again.
Capitalism Macroeconomics And Reality
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Author : James Crotty
language : en
Publisher: Edward Elgar Publishing
Release Date : 2017-04-28
Capitalism Macroeconomics And Reality written by James Crotty and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-28 with Business & Economics categories.
The essays comprising this collection analyze the deep flaws in the methodological foundation of mainstream economic theory, and explain how these flaws make mainstream economics more ideology than sound social science. James Crotty develops alternative theories built on realistic assumptions that can explain most of the disastrous economic and financial developments of the past four decades. His work contributes to the collective creation of a solid theoretical foundation on which to build an understanding of the ‘laws of motion’ of capitalism in the post WWII era.
Essentials Of Advanced Macroeconomic Theory
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Author : Ola Olsson
language : en
Publisher: Routledge
Release Date : 2013-03-01
Essentials Of Advanced Macroeconomic Theory written by Ola Olsson and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-01 with Business & Economics categories.
Trying to summarize the essentials of macroeconomic theory in the wake of the financial crisis that has shaken not only Western economies but also the macroeconomic profession is no easy task. In particular, the notion that markets are self-correcting and always in equilibrium appears to have taken a heavy blow. However, the jury is still out on which areas should be considered as failures and what which constitute the future of research. The overall aim of this text is to provide a compact overview of the contributions that are currently regarded as the most important for macroeconomic analysis and to equip the reader with the essential theoretical knowledge that all advanced students in macroeconomics should be acquainted with. The result is a compact text that should act as the perfect complement to further study of macroeconomics: an introduction to the key concepts discussed in the journal literature and suitable for students from upper undergraduate level through to PhD courses.
A Guide To What S Wrong With Economics
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Author : Edward Fullbrook
language : en
Publisher: Anthem Press
Release Date : 2004
A Guide To What S Wrong With Economics written by Edward Fullbrook and has been published by Anthem Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
During a time of accelerating momentum for radical change in the study of economics, 'A Guide to What's Wrong with Economics' comprehensively re-examines the shortcomings of neoclassical economics and considers a number of alternative formulations.
The General Theory Of Employment Interest And Money
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Author : John Maynard Keynes
language : en
Publisher: Atlantic Publishers & Dist
Release Date : 2016-04
The General Theory Of Employment Interest And Money written by John Maynard Keynes and has been published by Atlantic Publishers & Dist this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04 with Business & Economics categories.
John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
The Oxford Handbook Of Austrian Economics
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Author : Peter J. Boettke
language : en
Publisher:
Release Date : 2015
The Oxford Handbook Of Austrian Economics written by Peter J. Boettke and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with Business & Economics categories.
The Austrian School of Economics is an intellectual tradition in economics and political economy dating back to Carl Menger in the late-19th century. Menger stressed the subjective nature of value in the individual decision calculus. Individual choices are indeed made on the margin, but the evaluations of rank ordering of ends sought in the act of choice are subjective to individual chooser. For Menger, the economic calculus was about scarce means being deployed to pursue an individual's highest valued ends. The act of choice is guided by subjective assessments of the individual, and is open ended as the individual is constantly discovering what ends to pursue, and learning the most effective way to use the means available to satisfy those ends. This school of economic thinking spread outside of Austria to the rest of Europe and the United States in the early-20th century and continued to develop and gain followers, establishing itself as a major stream of heterodox economics. The Oxford Handbook of Austrian Economics provides an overview of this school and its theories. The various contributions discussed in this book all reflect a tension between the Austrian School's orthodox argumentative structure (rational choice and invisible hand) and its addressing of a heterodox problem situations (uncertainty, differential knowledge, ceaseless change). The Austrian economists from the founders to today seek to derive the invisible hand theorem from the rational choice postulate via institutional analysis in a persistent and consistent manner. Scholars and students working in the field of History of Economic Thought, those following heterodox approaches, and those both familiar with the Austrian School or looking to learn more will find much to learn in this comprehensive volume.
Finance Accumulation And Monetary Power
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Author : Daniel Woodley
language : en
Publisher: Routledge
Release Date : 2019-10-29
Finance Accumulation And Monetary Power written by Daniel Woodley and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-29 with Political Science categories.
This accessible yet rigorous book examines the development of ‘financial socialism’ in advanced capitalist economies in the decade since the global financial crisis of 2007–2009. This new term refers to an attempt to resolve the accumulation crisis of capital through coordinated central bank activism, where state circuits of monetary capital assume a critical role in the reproduction of capitalist social relations. The book explains the dynamics of the crisis as it has developed and assesses the response of monetary elites to systemic financial risk in the global economy. Their failure to re-engineer growth following the technology boom of the late 1990s and the global financial crisis are driving fundamental changes in the form and function of capitalist money, which have yet to be theorized adequately. Finance, Accumulation and Monetary Power presents a revealing and radical critique of the failure of the International Political Economy to apprehend changes taking place within capitalism, employing a critical-theoretical analysis of contradictions in the capitalist reproduction scheme. The book will be of key interest to scholars, students and readers of international political economy, critical political economy, heterodox economics, globalization, international relations, international political sociology, business studies and finance.
Why The West Is Failing
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Author : John Mills
language : en
Publisher: John Wiley & Sons
Release Date : 2022-08-15
Why The West Is Failing written by John Mills and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-08-15 with Political Science categories.
Low growth has become the economic default in the West. While China and other Asian Tigers continue to steam ahead, western commentators either argue that stagnation is inevitable, ignoring growth in order to focus on other factors such as inflation or inequality, or disclaim growth altogether. In Why the West is Failing, veteran businessman and economist John Mills strongly refutes these arguments. He maintains that the anaemic performance of western economies since the 1970s is due to the dominance of a policy framework that has fatally ignored the importance of industrial competitiveness. He shows that the key to driving up productivity – and thereby growth – is to promote a revival of manufacturing through investment and a competitive exchange rate policy. This would produce the extra resources needed to tackle climate change and reduce the risk of western politics continuing to spiral towards populist excess. It would also allow us to impede the baleful political consequences of Chinese economic domination.
Explorations In Economic Methodology
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Author : Roger E. Backhouse
language : en
Publisher: Routledge
Release Date : 2006-10-19
Explorations In Economic Methodology written by Roger E. Backhouse and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-10-19 with Business & Economics categories.
Roger Backhouse is a key figure in the field of economic methodology. Explorations in Economic Methodology both clarifies and responds to the issues raised by the literature and argues that methodology is an essential activity. Offering a constructive, but critical, response to the recent literature, this collection provides important new insights for students and researchers in economic methodology and the philosophy of science.