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These essays on Post-Keynesian economics were written expressly for
a volume to honour the life and work of Alfred Eichner. The
original countributions - that critically examine and extend ideas
in Eichner's "The Macrodynamics of Advanced Market Economies" are
organized in seven sections that correspond to areas of economics
in which Eichner made a significant contribution. Part 1 deals with
the megacorp, a theory of firm pricing and investment that was one
of Eichner's most important contributions. Issues of productivity
and technical change, that lie at the center of Eichner's
macrodynamic model, are the focus of part 1 and parts 3 and 4
elaborate on Eichner's work on growth and money and yield insights
into the theoretical disagreements among the Post-Keynesians
themselves. Part 5 presents a number of examples of
non-neo-classical model building. Part 6 opens with a critique of
the "new economic history" that leads to other essays on thorny
methodological issues confronting Post-Keynesians. Part 7 gives a
European perspective on North American Post-Keynesian economics.
The essays reveal the relationships between Eichner's work and
Institutionalist and Marxian economics. At the same time, the book
raises current theoretical conflicts among these groups as well as
among Post-Keynesians themselves. This book compliments Alfred
S.Eichner's "The Macrodynamics of Advanced Market Economies", also
published in 1991, and is appropriate for scholars and upper-level
undergraduates and graduate students.
With its roots in history and eyes on the future, this book traces
the development of our economic society from the Middle Ages to the
present, offering a balanced perspective of why our economy is the
way it is and where it may be headed. It explores the catalytic
role past economic trends and dynamics--particularly
capitalism--have played in creating the present challenges we face,
and offers suggestions on how we may deal with them most
effectively in the future.
Outsourcing Economics has a double meaning. First, it is a book
about the economics of outsourcing. Second, it examines the way
that economists have understood globalization as a pure market
phenomenon, and as a result have 'outsourced' the explanation of
world economic forces to other disciplines. Markets are embedded in
a set of institutions - labor, government, corporate, civil
society, and household - that mold the power asymmetries that
influence the distribution of the gains from globalization. In this
book, William Milberg and Deborah Winkler propose an institutional
theory of trade and development starting with the growth of global
value chains - international networks of production that have
restructured the global economy and its governance over the past
twenty-five years. They find that offshoring leads to greater
economic insecurity in industrialized countries that lack
institutions supporting workers. They also find that offshoring
allows firms to reduce domestic investment and focus on finance and
short-run stock movements.
Outsourcing Economics has a double meaning. First, it is a book
about the economics of outsourcing. Second, it examines the way
that economists have understood globalization as a pure market
phenomenon, and as a result have 'outsourced' the explanation of
world economic forces to other disciplines. Markets are embedded in
a set of institutions - labor, government, corporate, civil
society, and household - that mold the power asymmetries that
influence the distribution of the gains from globalization. In this
book, William Milberg and Deborah Winkler propose an institutional
theory of trade and development starting with the growth of global
value chains - international networks of production that have
restructured the global economy and its governance over the past
twenty-five years. They find that offshoring leads to greater
economic insecurity in industrialized countries that lack
institutions supporting workers. They also find that offshoring
allows firms to reduce domestic investment and focus on finance and
short-run stock movements.
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