The global economic crisis : new perspectives on the critique of economic theory and policy / edited by Emiliano Brancaccio, Giuseppe Fontana.

Format:

Book

Contributor:

Brancaccio, Emiliano.

Fontana, Giuseppe, 1968-

Series:

Routledge frontiers of political economy ; 144.

Routledge frontiers of political economy ; 144

Language:

English

Subjects (All):

Financial crises--Congresses.

Financial crises.

Globalization--Economic aspects--Congresses.

Globalization.

Economics--Congresses.

Economics.

Global Financial Crisis, 2008-2009--Congresses.

Global Financial Crisis, 2008-2009.

Physical Description:

1 online resource (344 p.)

Edition:

1st ed.

Place of Publication:

London ; New York : Routledge, 2011.

Language Note:

English

Summary:

Why did the economists of the so-called ""mainstream"" seem to fail to foresee the global economic crisis that exploded in 2008? And why do they appear to have difficulty in putting forward an interpretation of it that is consistent with the theoretical foundations of their models? These two questions have echoed insistently since the outbreak of the crisis, not only in academic circles but also in the mass media, and appear to reflect increasingly widespread dissatisfaction with the dominant paradigm of economic theory. Many believe that the global recession now underway may

Contents:

Front Cover; The Global Economic Crisis; Contents; List of figures; List of tables; Notes on contributors; Preface by Malcolm Sawyer; The global economic crisis: an introduction Emiliano Brancaccio and Giuseppe Fontana; Part I: The crisis of economic theory; 1. Some contradictions in 'mainstream' interpretations of the crisis and new perspectives in the critique of economic theory and policy: Emiliano Brancaccio; 2. Economy and economics: the twin crises: Alessandro Vercelli; 3. The great recession and the third crisis in economic theory: Riccardo Bellofiore and Joseph Halevi

4. As if nothing were going to happen: a search in vain for warnings about the current crisis in economic journals with the highest impact factors impact factors: Andrea Imperia and Vincenzo MaffeoPart II: Labour, distribution andprofit trends; 5. Changes in income distribution, financial disorder and crisis: Aldo Barba and Massimo Pivetti; 6. Income distribution and borrowing: tracking the US economy with a 'New Cambridge' model: Gennaro Zezza; 7. Changes in functional income distribution in Italy and Europe: Antonella Stirati

8. Low wages, consumer credit and the crisis: a monetary theory of production approach: Guglielmo Forges Davanzati and Riccardo Realfonzo9. Back to the future?The tendency of the (maximum) rate of profit to fall: empirical evidence and theory: Stefano Perri; Part III: International economic relations; 10. The international circuit of key currencies and the global crisis: is there scope for reform?: Lilia Costabile; 11. Globalization and the great crisis: Ernesto Screpanti

12. The global crisis in low- and middle-income countries: how the IMF responded: Andrea F. Presbitero and Alberto Zazzaro13. Notes on Europe, German mercantilism and the current crisis: Sergio Cesaratto; Part IV: The theory ofeconomic policy; 14. Privitization, reproduction and crisis: the case of utilities: Bruno Bosco; 15. Property rights in the knowledge economy: an explanation of the crisis: Ugo Pagano and Maria Alessandra Rossi; 16. Employment and income distribution from a classical-Keynesian point of view: Some tools to ground a normative analysis: Enrico Bellino; Index

Notes:

"Contains the proceedings of the conference, The Global Crisis: Contributions to the Critique of Economic Theory and Policy, held at the Economics Faculty of the University of Siena, Italy on the 26th and 27th January 2010"--Introd.

Includes bibliographical references and index.

ISBN:

1-136-72415-X

1-136-72416-8

0-203-81672-2

9780203816721

OCLC:

784881801