|
Showing 1 - 4 of
4 matches in All Departments
The core thesis of this book is that the major economic issues of
renewable energy, housing, health and income disparities could best
be addressed through direct government "in kind" production and
redistributive measures. It is argued that this governmental "in
kind" production of essential needs would allow a rapid movement
towards solutions that the market cannot possibly match. The market
works through indirect means. So, it is no mystery why in the areas
of energy, housing and health, problems are not only formidable but
in many respects are getting worse. In contrast, governmental "in
kind" production would be direct. Outcomes could be explicitly
planned and managers would be publicly accountable. This shift in
production should be accompanied by redistributive measures through
higher taxes on corporations and the rich and the possible adoption
of monetary policies in line with Modern Monetary Theory (MMT).
Relatedly, the book demonstrates that the current lack of
imaginative solutions results from a paralysis of imagination,
rooted deeply in nineteenth century liberalism that held that the
market was to serve all issues. A progressive agenda today needs to
separate out "needs" from "wants" and to engage government
production in the service of collectivist needs. "In kind"
production would infuse a democratic component within the economy.
The last chapter of the book also deals with how the ideology of
neoliberalism blocks even the contemplation of governmental
production in the service of people’s needs. This accessible work
will be of significant interest to anyone seeking original
solutions to age-old problems, particularly readers of public
policy, heterodox economics, progressive politics and MMT. More
generally, it is of interest to scholars
The core thesis of this book is that the major economic issues of
renewable energy, housing, health and income disparities could best
be addressed through direct government "in kind" production and
redistributive measures. It is argued that this governmental "in
kind" production of essential needs would allow a rapid movement
towards solutions that the market cannot possibly match. The market
works through indirect means. So, it is no mystery why in the areas
of energy, housing and health, problems are not only formidable but
in many respects are getting worse. In contrast, governmental "in
kind" production would be direct. Outcomes could be explicitly
planned and managers would be publicly accountable. This shift in
production should be accompanied by redistributive measures through
higher taxes on corporations and the rich and the possible adoption
of monetary policies in line with Modern Monetary Theory (MMT).
Relatedly, the book demonstrates that the current lack of
imaginative solutions results from a paralysis of imagination,
rooted deeply in nineteenth century liberalism that held that the
market was to serve all issues. A progressive agenda today needs to
separate out "needs" from "wants" and to engage government
production in the service of collectivist needs. "In kind"
production would infuse a democratic component within the economy.
The last chapter of the book also deals with how the ideology of
neoliberalism blocks even the contemplation of governmental
production in the service of people's needs. This accessible work
will be of significant interest to anyone seeking original
solutions to age-old problems, particularly readers of public
policy, heterodox economics, progressive politics and MMT. More
generally, it is of interest to scholars
Investment is the engine of growth. In consequence, the social
welfare of the populace depends on the expectations of uncertain
profitability as understood by the agents of a wealthy few who
decide upon levels of investment. As private wealth is intimately
tied to the investment process, the importance of wealth
concentration goes far beyond considerations of equity. In recent
years, private economic power has become increasingly concentrated
as more of the population has become dependent upon an elite
pursuing private ends. In this context, this book examines the role
of capital accumulation in various historical contexts. Over
seventy years ago, Michal Kalecki derived the mathematical
relationship between government deficits, the external trade
account and free cash-defined as the gross profit over and above
that portion ploughed back into new investment. Since then, the
free cash literature has remained largely within an industrial
organizational context where free cash theory has helped to explain
mergers. In contrast, this book, revisits Kalecki's free cash
construction at the macro and global level and explores the various
causes and effects of free cash on the economy. As part of this
examination, the author highlights the historical uses of free cash
in imperialist adventures, mergers and speculative endeavours. In
addition to developing a new relative valuation measure of capital
accumulation, he also utilizes a neo-Kaleckian model to help
explain the U.S. slowdown in investment since the late 1960s, the
increasing inequality of wealth and income and the recent
speculative episodes associated with the spillage of free cash.
Finally, based on these models the book argues for heightened taxes
on the wealthy and an increased role for government investment in
health care and energy. Free Cash, Capital Accumulation and
Inequality offers an explanation as to how wealth and income
inequalities have fashioned, and been fashioned by, various
historical episodes right up to the present. It will be of great
interest to those studying and researching in the field of economic
analysis.
Investment is the engine of growth. In consequence, the social
welfare of the populace depends on the expectations of uncertain
profitability as understood by the agents of a wealthy few who
decide upon levels of investment. As private wealth is intimately
tied to the investment process, the importance of wealth
concentration goes far beyond considerations of equity. In recent
years, private economic power has become increasingly concentrated
as more of the population has become dependent upon an elite
pursuing private ends. In this context, this book examines the role
of capital accumulation in various historical contexts. Over
seventy years ago, Michal Kalecki derived the mathematical
relationship between government deficits, the external trade
account and free cash-defined as the gross profit over and above
that portion ploughed back into new investment. Since then, the
free cash literature has remained largely within an industrial
organizational context where free cash theory has helped to explain
mergers. In contrast, this book, revisits Kalecki's free cash
construction at the macro and global level and explores the various
causes and effects of free cash on the economy. As part of this
examination, the author highlights the historical uses of free cash
in imperialist adventures, mergers and speculative endeavours. In
addition to developing a new relative valuation measure of capital
accumulation, he also utilizes a neo-Kaleckian model to help
explain the U.S. slowdown in investment since the late 1960s, the
increasing inequality of wealth and income and the recent
speculative episodes associated with the spillage of free cash.
Finally, based on these models the book argues for heightened taxes
on the wealthy and an increased role for government investment in
health care and energy. Free Cash, Capital Accumulation and
Inequality offers an explanation as to how wealth and income
inequalities have fashioned, and been fashioned by, various
historical episodes right up to the present. It will be of great
interest to those studying and researching in the field of economic
analysis.
|
|