People, Power, and Profits: Progressive Capitalism for an Age of Discontent | Firefighting: The Financial Crisis and Its Lessons | The Future of Capitalism: Facing the New Anxieties | The Myth of Capitalism: Monopolies and the Death of Competition | Keeping At It: The Quest for Sound Money and Good Government | A Crisis of Beliefs: Investor Psychology and Financial Fragility | Crashed: How a Decade of Financial Crises Changed the World
The dominant view in economics is that money and government should play only a minor role in economic life. Economic outcomes, it is claimed, are best left to the âinvisible handâ of the market. Yet these claims remain staunchly unsettled. The view taken in this important new book is that the omnipresence of uncertainty makes money and government essential features of any market economy.
Since Adam Smith, classical economics has espoused nonintervention in markets. The Great Depression brought Keynesian economics to the fore, but stagflation in the 1970s brought a return to small-state orthodoxy. The 2008 global financial crash should have brought a reevaluation of that stance; instead the response has been punishing austerity and anemic recovery. This book aims to reintroduce Keynesâs central insights to a new generation of economists, and embolden them to return money and government to the starring roles in the economic drama that they deserve.
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