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Documents the major processes, performance, institutions, problems and policies associated with global political economy. This book present an analysis of the changing distribution and production of wealth throughout the world, the global technological revolution, and a special study of Asia and Eastern Europe in the world system.
Post-Keynesian Monetary Theory recaps the views of Marc Lavoie on monetary theory, seen from a post-Keynesian perspective over a 35-year period. The book contains a collection of twenty previously published papers, as well as an introduction which explains how these papers came about and how they were received. All of the selected articles avoid mathematical formalism.
Post-Keynesian Growth Theory is a collection of 18 articles by Marc Lavoie, published between 1995 and 2020, with an extended foreword by Eckhard Hein. Marc Lavoie’s introduction recalls how he became attracted to the post-Keynesian theory of growth more than 45 years ago and explains how and why this book came about.
The conventional macroeconomic theory of the late twentieth and early twenty-first century, based on the assumption that the working of complex monetary economy could be analysed on the same principles as those of barter exchange, has demonstrably failed. This book provides a thorough rethinking of the nature of a monetary economy. It builds upon a complete theory of the domestic and international monetary macro-economy, and of macroeconomic policy for the modern age. Central to the analysis is the idea that a successful market economy requires an endogenous supply of money via the banking system. Therefore to achieve macroeconomic stability, the book proposes the targeting of real interest rates under a regime of flexible exchange rates or 'fixed but adjustable exchange rates' as the main goal of monetary policy, along with a range of innovative fiscal and trade policies to promote economic growth, and thereby achieve full employment and a fair distribution of income.
One hundred years ago a great Canadian, Sir Wilfrid Laurier, predicted that the twentieth century would belong to Canada. He had a plan to make it so. What happened? Canada lost sight of Laurier's plan and failed to claim its century, dwelling instead in the long shadow of the United States. No more! Co-authors Brian Crowley, Jason Clemens and Niels Veldhuis envision Canada's emergence as an economic and social power. They argue, while the United States was busy precipitating a global economic disaster, Canada was on a path that could lead it into an era of unprecedented prosperity. It won't be easy. We must be prepared to follow through on reforms enacted and complete the work already begun. If so, Canada will become the country that Laurier foretold, a land of work for all who want it, of opportunity, investment, innovation and prosperity. Laurier said that the twentieth century belonged to Canada. He was absolutely right; he was merely off by 100 years.
This intriguing book uses a 'social structures of accumulation' approach to address the big questions in political economy, and will be of interest to historians, political economists and macroeconomists.
With its central focus on money and its link with the production sphere, this book explores how best to adapt the fundamental ideas of the circulationist perspective to achieve a better understanding of the financialisation of the productive apparatus
This book brings together an impressive and diverse group of authors to discuss its central theme: whether or not the dollarized international monetary system is sustainable in the context of the global economy it helped create. In addition to its uniquely well-rounded and comprehensive coverage of the issues, this lively and highly readable volume provides an accurate assessment of the lack of consensus in the current debate. A must read for anyone interested in currency crises and the increasing vulnerability of the dollar. Jane D Arista, Director of Progams, Financial Markets Center, US This book deals with the economic consequences of monetary integration, which has long been dominated b...
Rapid and sustained growth in the twenty-first-century global economy of large developing economies including Brazil, Russia, India, China, and South Africa, has captivated policy-makers and popular business press pundits alike. The coining of the new acronym BRICS and widespread adoption in international economics discourse of the designation "emerging markets" is symptomatic of that interest. The Political Economy of Emerging Markets situates the BRICS phenomena in the global economic context of advanced economies continuing to languish in recession and hovering over a deflationary abyss several years after the meltdown. A key question this volume seeks to answer is whether the BRICS and s...
This book investigates the pre-crisis practice of bankers' remuneration in the UK to provide evidence of the problems in practice. It critically analyses the regulatory initiatives implemented after the crisis and investigates the post-crisis practice to reflect the effects and problems of the regulation. The book also discusses the traditional administration of remuneration and political incentives in Chinese banks and the regulatory initiatives for reforming bankers' remuneration. It investigates the recent practices in major Chinese banks to reveal the problems of the regulatory initiatives and the impact of political incentives. It will help academics, researchers, students and practitioners develop a comprehensive understanding of the ongoing reform of bankers' remuneration in the UK and the uniqueness of banks' remuneration systems and incentive mechanisms in China. Furthermore, it provides theoretical insights into the differences between the two jurisdictions in their regulations and practices and the deep-seated reasons for the differences.