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Macroeconomic Theory and its Failings

Alternative Perspectives on the Global Financial Crisis

Edited by Steven Kates

This innovative book focuses on the current global financial crisis and the inadequacies of the economic theories being used to guide policy. In so doing, it tackles the economic theories that have been used firstly to understand its causes and thereafter to contain the damage it has brought.
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Edited by Neri Salvadori

Institutional and Social Dynamics of Growth and Distribution presents a set of original contributions to the much-debated issues of long-run economic growth in relation to institutional and social progress.
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Edited by Neri Salvadori and Arrigo Opocher

This engaging book contains a set of original contributions to the much-debated issues of long-run economic growth in relation to institutional and social progress.
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Edited by Neri Salvadori, Pasquale Commendatore and Massimo Tamberi

The authors in this book regard the process of economic expansion as a non-homogeneous and multifaceted phenomenon which has deeply affected human welfare, and cultural, social and political change. The book is a bridge between the theorists (Rosenstein-Rodan, Lewis, Myrdal, and Hirschmann) who in the post-war period analyzed regional inequalities, structural change and dualism, and the modern literature on economic growth. The latter has emphasized the existence of multiple equilibria, bifurcations and various types of dynamic complexity, and clarified the conditions for the emergence of phenomena such as cumulative causation, path dependence and hysteresis. These are the typical ingredients of structural change, economic development or underdevelopment.
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Edited by Neri Salvadori and Renato Balducci

Innovation, Unemployment and Policy in the Theories of Growth and Distribution increases our understanding about the more relevant economic determinants and policy aspects of the interdependence between economic growth and income distribution.
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Reinventing Functional Finance

Transformational Growth and Full Employment

Edited by Edward J. Nell and Mathew Forstater

This ambitious book seeks both to revive and revise the idea of ‘functional finance’. Followers of this doctrine believe that government budgets should concentrate solely on their macroeconomic impact on the economy, rather than reflecting a concern for sound finance and budgetary discipline. Reinventing Functional Finance examines the origins of this idea and then considers it in a modern context. The authors explore the concept of NAIRU and argue that modern economies can operate at the level of full employment without provoking unmanageable inflation. They also contend that budget deficits do not have the deleterious effects commonly ascribed to them; the belief that they do rests on a misunderstanding of modern money. In this context, they highlight the relevance of Abba Lerner’s famous dictum, ‘money is a creature of the State’. The authors also debate the merits of various proposals for ‘Employer of Last Resort’ programs, which combine automatic stabilizers with the buffer stock principle.
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Edited by Janice Peterson and Margaret Lewis

The Elgar Companion to Feminist Economics is the first comprehensive reference work introducing readers to the field of feminist economics. It includes 99 entries by 88 authors. This authoritative volume includes timely entries addressing key concepts in feminist economics as well as feminist economic critiques and reconstructions of major economic theories and policy debates.
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Edited by Heinz D. Kurz and Neri Salvadori

This authoritative and comprehensive reference work provides a thorough account of the classical approach to economics. It contains almost two hundred informative short entries in an easily accessible dictionary format on all the significant areas of this school of thought. The companion breaks new ground by drawing together the most important issues in the field in two comprehensive volumes.