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Neoliberalism and the Road to Inequality and Stagnation

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Neoliberalism and the Road to Inequality and Stagnation

A Chronicle Foretold

9781802200072 Edward Elgar Publishing
Thomas I. Palley, Founding Co-editor of the Review of Keynesian Economics and Independent Economist
Publication Date: November 2021 ISBN: 978 1 80220 007 2 Extent: c 320 pp
Tom Palley has made a significant contribution to understanding the meaning and significance of neoliberalism. This chronicle collects some of his best work to explain how global adoption of neoliberal policies over the past thirty years has increased income inequality and created tendencies to stagnation.

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Tom Palley has made a significant contribution to understanding the meaning and significance of neoliberalism. This chronicle collects some of his best work to explain how global adoption of neoliberal policies over the past thirty years has increased income inequality and created tendencies to stagnation.

The book explores the impact of neoliberal policies on the US, Europe, and global economy. It shows how the 2008 financial crisis and Great Recession were predictable outcomes of the neoliberal policy experiment, as is the emergence of global ‘race to the bottom’ competition. It also explains how Europe's economic fragility is connected to the neoliberal design of the euro. Neoliberalism creates a particular variety of capitalism. It is a political choice. That means society is tacitly engaged in a ‘war of ideas’, the outcome of which will determine our future political economic trajectory.

Students, scholars, and readers in economics and political science will find this rich collection illuminating in their efforts to better understand the policy matrix that currently dominates the political landscape.
Critical Acclaim
‘Tom Palley is a lighthouse – bright, clear, solid and unshakable – in his warnings over many years against the perils of neoclassical economics and neoliberal policy.’
– James K. Galbraith, The University of Texas at Austin, US
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