Macroeconomic Policy and the Future of Capitalism The Revenge of the Rentiers and the Threat to Prosperity
Produktdetaljer
Om bidragsyterne
John Smithin, Professor of Economics, Department of Economics and the Schulich School of Business, York University, Toronto, Canada<i>'This book is stimulating and written in language easily accessible to a wide audience. It presents a useful survey of macroeconomic policies and ideas up to the present day. Smithin provides a welcome appraisal of modern macroeconomic theory and raises valid questions about the wisdom of contemporary policy makers. This is definitely a book worth reading and adding to your library.'</i>
John Smithin argues that this 'financial reaction' in macroeconomic policy is the result of a distinct shift in political power in favour of financial or 'rentier' interests, and away from both labour and manufacturing business. The outcome is a regime in which the real rate of return to financial capital is persistently higher than it was in the relatively prosperous years between the end of World War II and the mid-1970s, but economic performance is persistently worse. Professor Smithin recommends drastic changes in attitude, in particular in the conduct of monetary policy, if a more secure prosperity is to be restored in the 21st century.
Macroeconomic Policy and the Future of Capitalism is an accessible, highly readable account of macroeconomic policy in the industrial nations which cuts through the complex mathematics and obscure jargon of most books on economics to deal with real issues.