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The Decline and Fall of Neoliberalism - Rebuilding the Economy in an Age of Crises (Hardcover)
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The Decline and Fall of Neoliberalism - Rebuilding the Economy in an Age of Crises (Hardcover)
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The Decline and Fall of Neoliberalism argues that the neoliberal
era – starting after the collapse of the Bretton Woods system –
is coming to an end. In the wake of the financial and economic
crisis of 2008 and the outbreak of the pandemic in 2019, the
doctrine outlined by monetarists appears to offer an inadequate
response to the economic instability that characterises our
contemporary world. To deal with the fallout of these crises,
central banks have stepped in as major regulators of the economic
system through massive interventions to support both financial
markets and public spending, marking a clean break with the
traditional conception of their role as depoliticised actors. Is
the resurgence of inflation a consequence of this reckless strategy
over which they seem to have lost control? Or is it rather rooted
in an outdated understanding of money and monetary policy? One
thing is certain: a profound change in policy is emerging. The
growing turmoil in the global economy and the environmental
challenges that face us demand an urgent and comprehensive
rethinking of the economic role of the state. This book further
develops the analysis presented in Populism and Neoliberalism and
takes a closer look at the nature of neoliberalism as a political
doctrine. Through this detailed description, it identifies the
difficulties within economic thought that prevent it from
responding appropriately to contemporary challenges. Drawing from
the lessons of history, it proposes a renewed relationship between
the state and the market that strikes a balance between planning
and self-regulation. A post-neoliberal world is about to dawn, but
its shape can still be determined by the path we choose to follow.
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