Financial instability and economic security after the great recession

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Title:

Financial instability and economic security after the great recession

Author:

Whalen, Charles J., 1960-

ISBN:

9780857934833

Publication Information:

Cheltenham : Edward Elgar, 2011

Physical Description:

xiv, 219 p. : ill. ; 24 cm.

Contents:

Preface -- Introduction: instability, prosperity and economics after the Great Recession / Charles J. Whalen Foundations. Subverting Say's law: Harlan McCracken and the Commons-Keynes connection / Steven Kates -- Toward a synthesis of institutional and post-Keynesian economics / W. Robert Brazelton and Charles J. Whalen -- Futurity: cornerstone of post-Keynesian institutionalism / Glen Atkinson and Charles J. Whalen The American economy. Understanding and preventing financial instability: post-Keynesian institutionalism and government as employer of last resort / Fadhel Kaboub -- Toward a more rapid recovery: incorporating subsidiarity into macroeconomic policy / David A. Zalewski and Charles J. Whalen -- Financial stability, regulatory buffers and economic growth after the Great Recession: some regulatory implications / Eric Tymoigne The global economy. Regulating for stability: bank capitalization and the emergence of an international lender of last resort / Jan Toporowski -- Evolution without fundamental change: the Washington consensus on economic development and its significance for post-Keynesian institutionalism / John Marangos and Charles J. Whalen -- Money-manager capitalism, capital flows and development in emerging market economies: a post-Keynesian institutionalist analysis / Yan Liang -- Conclusion. The future of post-Keynesian institutionalism / Charles J. Whalen.

Abstract:

This text rethinks economic theory and policy by focusing on the problem of financial instability and the need to secure broadly shared prosperity in the United States and across the globe.

Subject Term:

Global Financial Crisis, 2008-2009.

Financial crises.

Added Author:

Whalen, Charles J., 1960-

Copies:

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Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168025559515	330.90512 W552F 2011	1	Searching... Unknown

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Summary

This timely book rethinks economic theory and policy by addressing the problem of economic instability and the need to secure broadly shared prosperity. It stresses that advancing economics in the wake of the Great Recession requires an evolutionary standpoint, greater attention to uncertainty and expectations, and the integration of finance into macroeconomics. The result is a broader array of policy options - and challenges - than conventional economics presents.

Building on the pioneering work of Thorstein Veblen, John R. Commons and John Maynard Keynes, the authors synthesize key insights from Institutional and Post Keynesian economics into Post-Keynesian Institutionalism. Then they use that framework to explore an array of economic problems confronting the United States and the world. Inspired by the work of Hyman Minsky, the authors place financial relations at the center of their analysis of how economies operate and change over time.

Students and scholars of macroeconomics and public policy will find this book of interest, as will a wider audience of financial analysts, policy makers and citizens interested in understanding economic booms and downturns.