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Books > Business & Economics > Economics > Macroeconomics
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Common Sense Macroeconomics (Hardcover)
Loot Price: R2,759
Discovery Miles 27 590
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Common Sense Macroeconomics (Hardcover)
Expected to ship within 10 - 15 working days
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In a world of negative interest rates, extreme inequality and
trillion-dollar budget deficits, it is safe to say that
conventional macroeconomics needs an overhaul. Common Sense
Macroeconomics is an innovative guide to various concepts of
macroeconomic analysis. Presented in a student-friendly and
accessible way, this textbook is an ideal introduction to all who
seek to foresee economic developments and address some of the key
problems of our time.Specifically, this book innovates as
follows.Ravi Batra, a Professor of Economics at Southern Methodist
University and known for his accurate forecasts such as the 2008
crash, argues that the goal of macroeconomics is to raise the
living standard of all, not just a privileged few. Contrary to
popular belief, relentless monetary expansion to finance budget
deficits actually makes the rich richer and the poor poorer, which
has been happening all over the world. Ethical policies and
efficiency that create general prosperity go together. In order to
increase everyone's income, governments should generate competition
and outlaw mergers among large and profitable firms. Inequality
arises from monopoly capitalism, because then wages lag behind
productivity and generate a rising wage-productivity gap. This is
the ultimate source of almost all economic troubles and imbalances.
While the growing gap is inherently unfair, it also leads to vast
income disparity and wealth concentration, stock market bubbles and
crashes, recessions and eventually depressions. It is the rise in
the wage gap that preceded the Great Depression of the 1930s and
now the Great Recession of 2008. Hence governments should not
stifle competition and vigorously enforce anti-trust laws.
Macroeconomic equilibrium nowadays requires thatSupply = Demand +
New Debt
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