Macroeconomic Policy and the Future of Capitalism addresses the
revolution in macroeconomic policy of the last quarter of the
twentieth century and the movement away from concerns with
employment and growth in favour of financial variables such as
inflation and exchange rates.John Smithin argues that this
'financial reaction' in macroeconomic policy is the result of a
distinct shift in political power in favour of financial or
'rentier' interests, and away from both labour and manufacturing
business. The outcome is a regime in which the real rate of return
to financial capital is persistently higher than it was in the
relatively prosperous years between the end of World War II and the
mid-1970s, but economic performance is persistently worse.
Professor Smithin recommends drastic changes in attitude, in
particular in the conduct of monetary policy, if a more secure
prosperity is to be restored in the 21st century. Macroeconomic
Policy and the Future of Capitalism is an accessible, highly
readable account of macroeconomic policy in the industrial nations
which cuts through the complex mathematics and obscure jargon of
most books on economics to deal with real issues.
General
Imprint: |
Edward Elgar Publishing Ltd
|
Country of origin: |
United Kingdom |
Release date: |
1997 |
Authors: |
John Smithin
|
Dimensions: |
234 x 156 x 13mm (L x W x T) |
Format: |
Paperback
|
Pages: |
160 |
Edition: |
New edition |
ISBN-13: |
978-1-85278-745-5 |
Categories: |
Books >
Business & Economics >
Economics >
Macroeconomics >
General
|
LSN: |
1-85278-745-7 |
Barcode: |
9781852787455 |
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