In the U.S., the economic recovery since the Great Recession has
remained sub-par and beset by persistent fear it might weaken
again. Even if that is avoided, the most likely outcome is
continued weak growth, accompanied by high unemployment and
historically high levels of income inequality. In Europe, the
recovery from the Great Recession has been even worse, with the
euro zone beset by an unresolved euro crisis that has already
contributed to a double-dip recession in the region. This book
offers an alternative agenda for shared prosperity to that on offer
from mainstream economists. The thinking is rooted in the Keynesian
analytic tradition, which has been substantially vindicated by
events. However, pure Keynesian macroeconomic analysis is
supplemented by a focus on the institutions and policy
interventions needed for an economy to generate productive full
employment with contained income inequality. Such a perspective can
be termed "structural Keynesianism." These are critical times and
the public deserves an open debate that does not arbitrarily or
ideologically lock out alternative perspectives and policy ideas.
The book contains a collection of essays that offer a credible
policy program for shared prosperity, rooted in a clear narrative
that cuts through the economic confusions that currently bedevil
debate.
General
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