The core instrument of input-output analysis is a matrix of technical coefficients. This input-output matrix orders national accounts by interconnecting the use and make statistics of the different sectors, traces indirect economic effects or multipliers, and is used to map environmental impacts or footprints. At all levels there are issues of its dimension, not only size but also type - commodities or industries - and resolution of these issues requires that statisticians, economists (applied and theoretical), and policy analysts (including environmental) familiarize themselves with each other's work. All contribute various chapters of the handbook and these are interrelated in this introductory chapter.
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Thijs ten Raa
Edited by Thijs ten Raa
The standard neoclassical method for building macroeconomics upon a microeconomic foundation has proven unable to anticipate and account for actual issues, especially the financial and economic crisis that burst in 2008. In this chapter we show that it would be appropriate to return to the method once used by classical writers, who considered the economy as a whole and referred to institutions and production conditions as the cornerstone of economic activity. This was also Keynes’s method, in developing the concept of a monetary economy of production. We show that a renewed analysis of the economy as a whole would open up a range of new perspectives on macroeconomics.
Louis- Philippe Rochon and Sergio Rossi
Rethinking economics is a dramatically urgent necessity in light of the damages caused by the 2008 global financial crisis, resulting from the dominance of mainstream economics. Economic policies implemented since the early 1980s in many countries have induced lower economic growth, higher rates of involuntary unemployment and more income and wealth inequalities than in the previous three decades. A decade after the beginning of this crisis, policy is still unable to provide all citizens with greater economic comforts. This volume contributes to rethinking economics by providing readers at all levels with thoughtful contributions on a range of topics.