The Other Half of Macroeconomics and the Fate of Globalization

Titel: The Other Half of Macroeconomics and the Fate of Globalization

Schrijver: Richard C. Koo

Bindingswijze: Hardcover

EAN: 9781119482154

Conditie: Redelijk

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Beschrijving:

An entirely new approach to analyzing the economic problemsof today's advanced countries, from a leading economist

The Other Half of Macroeconomics and the Fate of Globalization presents a totally new approach to macroeconomics that offers a solution to the challenges of stagnation and worsening inequality that trouble so many advanced countries.

Since the Great Recession of 2008, most of the developed world has been mired in stagnation. The repeated failures of central banks and governments to meet inflation or growth targets despite truly exorbitant levels of monetary accommodation have left the public justifiably suspicious of the establishment and its economists.

Richard C. Koo, a noted thought leader in economics and creator of the concept of balance sheet recessions – which triggered the current focus on debt in global policy debate–introduces the insightful new concept of pursued economies in this book. This concept shows that the effectiveness of monetary and fiscal policy changes as an economy undergoes different stages of development It also identifies the core drivers of the economic and political predicaments advanced nations face today and shows how these countries can move forward in the new global environment.

Get a new perspective from the ‘other half’ of macroeconomics

The failure of the vast majority of economists in government, academia and the private sector to predict either the post-2008 Great Recession or the degree of its severity has raised serious credibility issues for the profession. The repeated failures of central banks and other policymakers in all advanced countries to meet their inflation or growth targets in spite of astronomical monetary easing, have left the public rightfully suspicious of the establishment and its economists.

The Other Half of Macroeconomics and the Fate of Globalization elucidates what was missing in economics all along and what changes are needed to make the profession relevant to the economic challenges of today. Once the other half of macroeconomics is understood both as a post-bubble phenomenon and as a phase of post-industrial economies, it should be possible for policy makers to devise appropriate measures to overcome difficulties advanced countries are facing today such as stagnation and income inequality.

• Shows how it’s possible to devise appropriate policy response to slow wage and productivity growth in these economies

• Demonstrates that the effectiveness of monetary and fiscal policy changes as an economy undergoes different stages of development

• Argues that tax rules, regulations and even educational system must be revised to match the need of pursued (by emerging nations) countries

• Explains the 200-year process of economic development and where that process is taking all of us

Inside, Richard C. Koo offers a completely new way of looking at the economic predicament of advanced countries today.