Download or read book Inflation is Always and Everywhere a Conflict Phenomenon written by Eckhard Hein and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the post-Keynesian theory of inflation against the background of the simultaneous rise in inflation and profit shares in the course of the Covid-19 recovery and the Russian war in Ukraine. It distinguishes between the Keynes, Kaldor, Robinson, and Marglin tradition, and the Kalecki, Rowthorn, and Dutt tradition. Two prototype models in the latter tradition-the Dutt, Blecker/Setterfield and Lavoie variant, and the Rowthorn and Hein/Stockhammer variant-are discussed. The paper applies the latter to elucidate recent inflation trends propelled by increasing imported energy prices and then rising mark-ups. The effects of inflation-targeting central bank interest policies versus a post-Keynesian alternative macroeconomic policy approach are evaluated. It is argued that from a post-Keynesian perspective inflation is always and everywhere a conflict phenomenon, with different potential triggers. Adequate policies should thus focus on moderating distribution conflict by incomes policies, complemented by central banks targeting low long-term real interest rates, functional finance fiscal policies and international coordination of inflation targets.
Download or read book Distributional Conflict and Inflation written by R. Burdekin and published by Springer. This book was released on 1996-08-28 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been relatively little work applying the conflict inflation approach in different theoretical and historical settings. This book remedies this gap by treating private-sector distributional conflicts as well as government budgetary pressures on the money supply and the price level. Attention is drawn to the costs of non-accommodative policies in a conflict setting - and to the additional difficulties of non-accommodation likely associated with the use of exchange rate pegging as a disinflation device.
Download or read book Money Mischief written by Milton Friedman and published by HMH. This book was released on 1994-03-31 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nobel Prize–winning economist explains how value is created, and how that affects everything from your paycheck to global markets. In this “lively, enlightening introduction to monetary history” (Kirkus Reviews), one of the leading figures of the Chicago school of economics that rejected the theories of John Maynard Keynes offers a journey through history to illustrate the importance of understanding monetary economics, and how monetary theory can ignite or deepen inflation. With anecdotes revealing the far-reaching consequences of seemingly minor events—for example, how two obscure Scottish chemists destroyed the presidential prospects of William Jennings Bryan, and how FDR’s domestic politics helped communism triumph in China—as well as plain-English explanations of what the monetary system in the United States means for your personal finances and for everyone from the small business owner on Main Street to the banker on Wall Street, Money Mischief is an enlightening read from the author of Capitalism and Freedom and Free to Choose, who was called “the most influential economist of the second half of the twentieth century” by the Economist.
Download or read book Interactions in Political Economy written by Steven Pressman and published by Routledge. This book was released on 1996-08-08 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years there has been a growing dissatisfaction with standard economic theorising which has fostered the development of alternative ways of understanding how economies actually work. Too often though these approaches have been developed in isolation, or even in opposition to each other. However, Interactions in Political Economy, demonstra
Download or read book Maynard s Revenge written by Lance Taylor and published by Harvard University Press. This book was released on 2010 with total page 399 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is now widely agreed that mainstream macroeconomics is irrelevant and that there is need for a more useful and realistic economic analysis that can provide a better understanding of the ongoing global financial and economic crisis. Lance Taylor’s book exposes the unrealistic assumptions of the rational expectations and real business cycle approaches and of mainstream finance theory. It argues that in separating monetary and financial behavior from real behavior, they do not address the ways that consumption, accumulation, and the government play in the workings of the economy. Taylor argues that the ideas of J. M. Keynes and others provide a more useful framework both for understanding the crisis and for dealing with it effectively. Keynes’s basic points were fundamental uncertainty and the absence of Say’s Law. He set up machinery to analyze the macro economy under such circumstances, including the principle of effective demand, liquidity preference, different rules for determining commodity and asset prices, distinct behavioral patterns of different collective actors, and the importance of thinking in terms of complete macro accounting schemes. Economists working in this tradition also worked out growth and cycle models. Employing these ideas throughout Maynard’s Revenge, Taylor provides an analytical narrative about the causes of the crisis, and suggestions for dealing with it.
Download or read book IMF Staff Papers Volume 54 No 3 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2007-05-30 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: This issue features a timely paper by Vladimir Klyuev and Paul Mills on the role of personal wealth and home equity withdrawal in the decline in the U.S. saving rate. Lusine Lusinyan and Leo Bonato explain how work absence in 18 European countries affects labor supply and demand. And a paper by Paolo Manasse (University of Bologna) entitled "Deficit Limits and Fiscal Rules for Dummies" examines fiscal frameworks.
Download or read book Milton Friedman written by Robert Cord and published by Oxford University Press. This book was released on 2016 with total page 887 pages. Available in PDF, EPUB and Kindle. Book excerpt: Milton Friedman is regarded as one of the most influential economists of the twentieth century. This volume assesses the importance of the full range of Friedman's ideas, from his work on methodology in economics, and his consumption theory, his research on monetary economics, to his views on contentious social and political issues such as education, conscription, and drugs. It also presents personal recollections of Friedman by some of those who knew him, both asstudents and colleagues, and offers new evidence on Friedman's interactions with other noted economists. The volume provides readers with an up to date account of Friedman's continuing influence andwill help to stimulate further research across a variety of areas, including macroeconomics, the history of economic thought, and public policy. With contributions from a stellar cast, this book will be invaluable to academics and students alike.
Download or read book The Political Economy of Nation Building written by Mack Ott and published by Routledge. This book was released on 2017-07-28 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: Donor nations may advise and counsel, but the creation of a liberal nation state falls to its own people. They must create laws, exercise their liberties, provide freedom of belief and expression, and protect individual property rights. No nation becomes or remains free unless its people build, use, and defend these institutions, and protect them with understanding, vigilance, and effort. The Political Economy of Nation Building reviews the effects of political structures on the evolution and stability of liberalism in developing nations and considers the outlook for their success.Discussing the origins and applications of the modern liberal state from an explicitly Anglo- and Euro-centric view, Mack Ott addresses the origins of the rule of law and innovations that led to the rise of a market economy, separation of faith and governance, and the autonomy of finance - key components of the liberal state. He then addresses the emergence of sustained economic growth, a bridge between the liberal infrastructure and its application during the construction of a nation.Ott examines budget policy and laws, and accurate and timely economic and financial statistical reporting that assure donors that the recipient government is operating within the constraints of law. He addresses the beneficial effects of privatization of state-owned industry, examines the costs and benefits of nurturing non-governmental associations, and concludes with a review of transparent fiscal and monetary policies and the importance of non-interference in financial markets by the state.
Download or read book The Armstrong And Miller Book written by Alexander Armstrong and published by Sphere. This book was released on 2010-10-07 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: Armstrong and Miller are Britain's favourite comedy duo. In their first book, they bring their brilliant characters to the page in a brand-new way. In the classic tradition of books by such greats as Monty Python and Morecambe & Wise, THE ARMSTRONG AND MILLLER BOOK is a highly illustrated book, packed with inventive and completely original material.
Download or read book Economic Development written by E. Wayne Nafziger and published by Cambridge University Press. This book was released on 2012-03-26 with total page 863 pages. Available in PDF, EPUB and Kindle. Book excerpt: E. Wayne Nafziger analyzes the economic development of Asia, Africa, Latin America, and East-Central Europe. The book is suitable for those with a background in economics principles. Nafziger explains the reasons for the recent fast growth of India, Poland, Brazil, China, and other Pacific Rim countries, and the slow, yet essential, growth for a turnaround of sub-Saharan Africa. The fifth edition of the text, written by a scholar of developing countries, is replete with real-world examples and up-to-date information. Nafziger discusses poverty, income inequality, hunger, unemployment, the environment and carbon-dioxide emissions, and the widening gap between rich (including middle-income) and poor countries. Other new components include the rise and fall of models based on Russia, Japan, China/Taiwan/Korea, and North America; randomized experiments to assess aid; an exploration of whether information technology and mobile phones can provide poor countries with a shortcut to prosperity; and a discussion of how worldwide financial crises, debt, and trade and capital markets affect developing countries.
Download or read book Samuelson Friedman The Battle Over the Free Market written by Nicholas Wapshott and published by W. W. Norton & Company. This book was released on 2021-08-03 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Financial Times Best Economics Book of 2021 From the author of Keynes Hayek, the next great duel in the history of economics. In 1966 two columnists joined Newsweek magazine. Their assignment: debate the world of business and economics. Paul Samuelson was a towering figure in Keynesian economics, which supported the management of the economy along lines prescribed by John Maynard Keynes’s General Theory. Milton Friedman, little known at that time outside of conservative academic circles, championed “monetarism” and insisted the Federal Reserve maintain tight control over the amount of money circulating in the economy. In Samuelson Friedman, author and journalist Nicholas Wapshott brings narrative verve and puckish charm to the story of these two giants of modern economics, their braided lives and colossal intellectual battles. Samuelson, a forbidding technical genius, grew up a child of relative privilege and went on to revolutionize macroeconomics. He wrote the best-selling economics textbook of all time, famously remarking "I don’t care who writes a nation’s laws—or crafts its advanced treatises—if I can write its economics textbooks." His friend and adversary for decades, Milton Friedman, studied the Great Depression and with Anna Schwartz wrote the seminal books The Great Contraction and A Monetary History of the United States. Like Friedrich Hayek before him, Friedman found fortune writing a treatise, Capitalism and Freedom, that yoked free markets and libertarian politics in a potent argument that remains a lodestar for economic conservatives today. In Wapshott’s nimble hands, Samuelson and Friedman’s decades-long argument over how—or whether—to manage the economy becomes a window onto one of the longest periods of economic turmoil in the United States. As the soaring economy of the 1950s gave way to decades stalked by declining prosperity and "stagflation," it was a time when the theory and practice of economics became the preoccupation of politicians and the focus of national debate. It is an argument that continues today.
Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Download or read book The World According to China written by Elizabeth C. Economy and published by John Wiley & Sons. This book was released on 2021-10-25 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: An economic and military superpower with 20 percent of the world’s population, China has the wherewithal to transform the international system. Xi Jinping’s bold calls for China to “lead in the reform of the global governance system” suggest that he has just such an ambition. But how does he plan to realize it? And what does it mean for the rest of the world? In this compelling book, Elizabeth Economy reveals China’s ambitious new strategy to reclaim the country’s past glory and reshape the geostrategic landscape in dramatic new ways. Xi’s vision is one of Chinese centrality on the global stage, in which the mainland has realized its sovereignty claims over Hong Kong, Taiwan, and the South China Sea, deepened its global political, economic, and security reach through its grand-scale Belt and Road Initiative, and used its leadership in the United Nations and other institutions to align international norms and values, particularly around human rights, with those of China. It is a world radically different from that of today. The international community needs to understand and respond to the great risks, as well as the potential opportunities, of a world rebuilt by China.
Download or read book Theory of Macroeconomic Policy written by Christopher Tsoukis and published by Oxford University Press, USA. This book was released on 2020 with total page 735 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theory of Macroeconomic Policy offers a panoramic view of macroeconomic theory as a foundation for understanding macroeconomic, fiscal and monetary, policy.
Download or read book The Morality of Radical Economics written by Ron P. Baiman and published by Springer. This book was released on 2016-08-31 with total page 325 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is in equal parts a treatise on morality and economics, a critique of neoclassical orthodoxy, a brief for replacing mainstream economics with a radical political economics, and an argument for the abandonment of neoliberal capitalism in favor of democratic socialism. It includes a detailed proposal for a "demand and cost" alternative to "supply and demand" analysis and an in-depth technical critique of both neoclassical "high theory" and "applied microeconomic analysis" demonstrating that these are not only infeasible or immoral, but have directly contributed to public policy disasters. Further, the book suggests that only a moral economics in the form of radical political economy can address the looming economic and environmental crises of today’s world. Baiman begins with an introduction to morality and ethics in both general sciences and in economics in particular. He then guides readers through evidence of how neoclassical economics has not only failed to remain objective and value-free, but has become an ideology of apologetics protecting an immoral system. In addition to breaking down real-world examples to demonstrate his assertions, Baiman analyzes a theoretical Utopia design exercise. He concludes by arguing that the only form of economics that supports widely shared human values—such as social equity, democracy, and solidarity—is so-called "radical economics", and that all true economics science should be directed toward achieving more socially productive economic activity. An invaluable guide to morality and economics, this book will appeal to researchers and teachers looking to change the way we think about economics, policy, and society.
Download or read book Conflict Culture and History written by Stephen J. Blank and published by . This book was released on 2002-06-01 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: Five specialists examine the historical relationship of culture and conflict in various regional societies. The authors use Adda B. Bozeman's theories on conflict and culture as the basis for their analyses of the causes, nature, and conduct of war and conflict in the Soviet Union, the Middle East, Sinic Asia (China, Japan, and Vietnam), Latin America, and Africa. Drs. Blank, Lawrence Grinter, Karl P. Magyar, Lewis B. Ware, and Bynum E. Weathers conclude that non-Western cultures and societies do not reject war but look at violence and conflict as a normal and legitimate aspect of sociopolitical behavior.
Download or read book Unwitting Architect written by Julian Germann and published by Stanford University Press. This book was released on 2021-01-05 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global rise of neoliberalism since the 1970s is widely seen as a dynamic originating in the United States and the United Kingdom, and only belatedly and partially repeated by Germany. From this Anglocentric perspective, Germany's emergence at the forefront of neoliberal reforms in the eurozone is perplexing, and tends to be attributed to the same forces conventionally associated with the Anglo-American pioneers. This book challenges this ruling narrative conceptually and empirically. It recasts the genesis of neoliberalism as a process driven by a plenitude of actors, ideas, and interests. And it lays bare the pragmatic reasoning and counterintuitive choices of German crisis managers that are obscured by this master story. Drawing on extensive original archival research, this book argues that German officials did not intentionally set out to promote neoliberal change. Instead they were more intent on preserving Germany's export markets and competitiveness in order to stabilize the domestic compact between capital and labor. Nevertheless, the series of measures German policy elites took to manage the end of golden-age capitalism promoted neoliberal transformation in crucial respects: it destabilized the Bretton Woods system; it undermined socialist and social democratic responses to the crisis in Europe; it frustrated an internationally coordinated Keynesian reflation of the world economy; and ultimately it helped push the US into the Volcker interest-rate shock that inaugurated the attack on welfare and labor under Reagan and Thatcher. From this vantage point, the book illuminates the very different rationale behind the painful reforms German state managers have demanded of their indebted eurozone partners.
