Money and Government
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Krátky popis
The dominant view in economics is that money and government should
play only a minor role in economic life. Money, it is claimed, is
nothing more than a medium of exchange, and economic outcomes are
best left to the 'invisible hand' of the market. The view taken in
this important new book is that the omnipresence of uncertainty
make money and government essential features of any market
economy.One reason we need money is because we don't know what the
future will bring. Government - good government - makes the future
more predictable and therefore reduces this kind of demand for
money. After Adam Smith orthodoxy persistently espoused
non-intervention, but the Great Depression of 1929-32 stopped the
artificers of orthodox economics in their tracks.A precarious
balance of forces between government, employers, and trade unions
enabled Keynesian economics to emerge as the new policy paradigm of
the Western world. However, the stagflation of the 1970s led to the
rejection of Keynesian policy and a return to small-state
neoclassical orthodoxy. Thirty years later, the 2008 global
financial crash was severe enough to have shaken the re-vamped
classical orthodoxy, but, curiously, this did not happen.Once the
crisis had been overcome - by Keynesian measures taken in
desperation - the pre-crash orthodoxy was reinstated, undermined
but unbowed. Since 2008, no new 'big idea' has emerged, and
orthodoxy has maintained its sway, enacting punishing austerity
agendas that leave us with a still-anaemic global economy. This
book aims to familiarise the reader with essential elements of
Keynes's 'big idea'.By showing that much of economic orthodoxy is
far from being the hard science it claims to be, it aims to
embolden the next generation of economists to break free from their
conceptual prisons and afford money and government the starring
roles in the economic drama that they deserve.
Výber kníh autorov
Allen Lane ,
Robert Skidelsky
Zobraziť všetky knihy autora
Allen Lane,
Robert Skidelsky
Výber kníh vydavateľa
Slovart
Zobraziť všetky knihy vydavateľa
Slovart
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