The contributions in this book take a critical look at the achievements of macroeconomic theory as represented by monetarists and neoclassical economists. The 'Scandinavian Model' is reintroduced as an alternative, with its emphasis on institutions, market- and power-structure, for understanding macroeconomics, and its relevance is analyzed in the light of European monetary union.

Recasts the conventional theoretical underpinnings of capitalism in order to make sense of the radical and intricate changes that have been reshaping the relationship between the economy and society over the past two decades. For readers without technical knowledge of economics, explains the key technological, organizational, and institutional developments; and reconstructs the pattern connecting community, needs, modes of production, and the institutions and facets of markets. Annotation c. by Book News, Inc., Portland, Or. (view table of contents)