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New Thinking in Macroeconomics

Social, Institutional, and Environmental Perspectives Edited by Jonathan M. Harris, Director, Theory and Education Program and Neva R. Goodwin, Co-Director, the Global Development and Environment Institute at Tufts University, US
Presenting new and innovative perspectives on macroeconomics at the national and international levels, the editors bring together contributions on a wide range of topics including: current issues of globalization; transitional economies; inequality; unemployment; national and international debt; and the relationship of macroeconomic policies to the environment.
Extent: 296 pp
Hardback Price: $146.00 Web: $131.40
Publication Date: 2004
ISBN: 978 1 84376 412 0
Availability: In Stock
Paperback Price: $61.00 Web: $48.80
Publication Date: 2004
ISBN: 978 1 84542 086 4
Availability: In Stock
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Presenting new and innovative perspectives on macroeconomics at the national and international levels, the editors bring together contributions on a wide range of topics including: current issues of globalization; transitional economies; inequality; unemployment; national and international debt; and the relationship of macroeconomic policies to the environment.

The contributors draw on expertise in a variety of areas to provide insight into debates on macroeconomic policy in the US and Europe, as well as in developing and transitional economies. Themes explored include:

• disequilibrium in the macroeconomy: analysis of the roots of instability and crisis in national and global systems
• the evolution of macroeconomic institutions to stabilize and guide economic growth
• the paradoxes of globalization, the dangers of unrestricted financial flows, and the impacts of globalization on national institutional coherence
• macro and institutional strategies for the transitional economies of Russia and Eastern Europe
• distributional and equity issues, including employment, housing, and homelessness
• the impact of macroeconomic policy and debt on the environment
• long-term growth and its relationship to well-being and environmental sustainability.

This collection is a valuable resource for researchers and students of macroeconomics, presenting numerous case studies and examples which bring to life some of the theoretical debates that will determine the future of macroeconomics. Policy professionals in a variety of fields including politics, political economy, and international relations will also find much of interest in this enlightening volume.
‘The contributions in this volume constitute a valuable starting point for researchers and students of macroeconomics, extending the range of questions usually discussed by macroeconomists.’
– Matias Vernengo, Review of Radical Political Economics
Contributors: N. Aslanbeigui, P. Dorman, J. Eatwell, D. Ellerman, J.K. Galbraith, N.R. Goodwin, J.M. Harris, D.R. Howell, D. Isenberg, A. Mayhew, M.I. Naples, P. Streeten, J. Stiglitz, L. Taylor, L.R. Wray
Contents: Preface Introduction Part I: National Institutions and Policies 1. Stock-Flow Traps in the American Economy 2. Can the Fed Give us Macroeconomic Stability? Lessons from History 3. New Bridges Across the Chasm: Macro and Institutional Strategies for Transitional Economies Part II: The International Context 4. Paradoxes of Globalization 5. Globalization and Financial Crises: A Proposal for a New Approach to Macroeconomics 6. International Foundations of Economic Growth and Price Stability Part III: Employment, Distribution, and Equity 7. The Micro-Foundations of High Unemployment in Developed Countries: Are Labor Market Rigidities the Problem? 8. Can a Rising Tide Raise All Boats? Evidence from the Kennedy–Johnson and Clinton-Era Expansions 9. Housing and Homelessness in a Globalizing Economy Part IV: Macroeconomic Growth and the Environment 10. Debt and Deforestation 11. Reconciling Growth and the Environment Afterword by John Kenneth Galbraith: A Japanese Social Initiative – The Relevant View Index