This book analyses the major economic crisis that began in 20078
and continues in 2013. Carles Manera explains that it is not just a
financial crisis, caused primarily by the banking sector, as many
commentators claim, but a systemic crisis caused in part by
overproduction, falls in business profits, environmental problems,
and a stubborn insistence by political and monetary authorities on
economic policies driven by austerity. Providing examples from the
economic history of western nations, which provide economists and
social scientists with essential reference for understanding the
complexities behind this Great Recession, the author proposes
economic solutions to end the crisis that are at odds with policies
proposed and acted on by major European governments, led by
Germany. Manera thus adopts a heterodox approach -- a "subversive
view -- making this book stand out not only from governmental
economic policy-making but taking a stance far from conventional
academic literature on economics. Professor Manera is highly
critical of the economic policy coming out of Berlin and Brussels,
in which ultra-neoliberal orthodoxy is the predominant form of
economic action. He is of the firm opinion that this wrong path
will only prolong the crisis for the most vulnerable members of
society and for the middle classes, which make up the economic
consumer power-house of the European economy. A prime objective of
the work is foster a committed viewpoint and engagement by all
European nation states whereby Germany should lead Europe out of
this Great Recession (rather than leading Germany only out) and
that the European Central Bank should broaden substantively its
objectives and concentrate on policies that support economic
growth. Published in association with the Canada Blanch Centre for
Contemporary Spanish Studies.
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