Presenting a wide range of topics and written 150 years since Carl Menger’s Principles of Economics was published, this timely book reviews Menger’s life and theories and explains how his insights on the creation of money are still inspiring and relevant today. Highlighting state-of-the-art results on Menger’s methodology and economic theory, the book expertly analyses key topics such as the debt theory of money, capital wealth and the gender wage gap.
Bruno Jossa expertly illustrates that the creation of a system of cooperative firms is tantamount to a revolution giving rise to a new production mode capable of reversing the existing relationship between capital and labour. The book also demonstrates a revolution enacted by peaceful and democratic means in order for worker-managed organisations to outnumber capitalistic ones.
This insightful and comprehensive book uses theoretical and empirical studies to debunk contemporary illusions about the functionality of economies and examines the phenomena of economic magic and economic black magic. Norman C. Miller considers 11 economic myths, three of which are the theory that excessive imports reduce employment as firms are forced to downsize or shut down, that a more equal distribution of income kills incentives and reduces economic growth rates and the myth that a higher minimum wage always generates a net decrease in employment.
Presenting an in-depth overview of the foundations and developments of post-Keynesian macroeconomics since Kalecki and Keynes, this timely book develops a comprehensive post-Keynesian macroeconomic model with the respective macroeconomic policy mix for achieving non-inflationary full employment. Linking the short-run model to long-run distribution and growth theories, the theoretical approach is also applied to current research on macroeconomic regimes in finance-dominated capitalism and on the macroeconomic challenges of the socio-ecological transformation.
Over the past twenty years there has emerged a compelling new discourse on varieties of capitalism. That discourse has an appealing common sense which challenges the view there is no alternative to free market capitalism. The initial view had a microeconomic focus that made firms the fulcrum of analysis. It distinguished between liberal market and coordinated market economies. Subsequently, there has emerged a second-generation literature which adopts a macroeconomic perspective that emphasizes differences in drivers of growth. This book provides a collection of essays that engage those second-generation concerns and questions.
This insightful book discusses the behavioral microfoundations of Keynes’ macroeconomic revolution derived from ‘casual’ observations but impressively substantiated by rigorous research in Behavioral Economics and neurology. Ronald Schettkat argues that Keynes’ macroeconomic insights are based on microeconomic fundamentals of the behavior of humans and markets in the monetary economy we live in.
This cutting-edge Handbook puts economic nationalism in its historical context, from early industrialization to globalization. It explores how economic nationalism has emerged to new prominence in the post-globalization era as states are trying to protect their economies, societies, and cultures from unwanted external influences.
This Modern Guide explores central ideas, concepts, and themes in the Austrian school of economics, with a focus on how they, and with them the overall theory, have evolved over recent decades. Leading scholars offer their insights into potential directions of future research in the field, pointing towards contemporary debates and their potential conclusions, underdeveloped aspects and extensions of theory, and current applications of interest.
It is now widely acknowledged that history is useful, even essential, because it helps us predict the future. The history of ideas in economics, as in other fields of inquiry, plays an important role in enlightening current researchers as they endeavour to understand contemporary events and anticipate the future of human societies. This book brings together a fine collection of chapters that span contributions from forgotten classics to the most recent new thinking about critical issues such as growth, wealth, its creation and its distribution among members of society. It is A Brief History of Economic Thought, but it will certainly go a long way in helping undergraduate students and other researchers who are curious about the evolution of economic ideas over the last five centuries.
This cutting-edge Handbook provides a comprehensive overview of established and cutting-edge contributions to political economic thought. Featuring chapters by both leading and emerging scholars, the book showcases the rich array of theoretical approaches to the study of political economy, and the vibrant and productive debates amongst modern researchers within the field.