Economic Growth and Macroeconomic Stabilization Policies in Post-Keynesian Economics

"Hassan Bougrine, Louis-Philippe Rochon and the expert contributors to this book explore issues of economic growth and full employment; presenting a clear explanation to stagnation, recessions and crises, including the latest Global Financial Crisis of 2007-8. With a central focus on the role played by government spending, deficits and debt as well as the setting of interest rates, the chapters propose alternative policies that can be used by central banks and fiscal authorities in order to deal with problems of income inequality, unemployment and slow productivity. Students and professors of economics, policymakers interested in alternative policies, academics and scholars in all fields will benefit from the explorations therein and would do well to seek out the companion publication, Credit, Money and Crises in Post-Keynesian Economics, also published by Edward Elgar Publishing"-- Provided by publisher Front Matter Copyright Contents List of tables List of contributors Acknowledgments Introduction: economic policies for growth and development Part 1: Economic growth and post-Keynesian economics 1 Celebrating pioneers 2 Autonomous demand growth, distribution, and fiscal and monetary policy in the short and long runs 3 Functional distribution and wage inequality in recent Kaleckian growth models 4 Trade and growth in middle-income economies: Mexico, Korea, and China 5 Household debt and the rentier share of income 6 Secular stagnation, loanable funds and demography: why the zero lower bound is not the problem 7 Hicks on Hayek, Keynes, and Wicksell 8 Garegnani, Ackley and the years of high theory at Svimez 9 The role of destabilizing expectations in the 2000–2001 Turkish crisis: a behavioural economics complement to the financial fragility hypothesis Part 2: Macro-stabilization policies andpost-Keynesian economics 10 Long-term shifts in demand and distribution in neo-Kaleckian and neo-Goodwinian models 11 The problematic nature of the macroeconomic policies of the Economic and Monetary Union 12 The political economy of quantitative easing and the Fed: who gained, who lost, and why did it end? 13 Central-bank independence revisited 14 The case for a capital levy 15 Negative interest-rate policy (NIRP) and the fallacy of the natural rate of interest: why NIRP may worsen Keynesianun employment 16 Dimensions and implications of the slowdown in OECD business investment 17 The Great Deception: the ‘science’ of monetary policy and the Great Moderation revisited Full bibliography of Marc Lavoie and Mario Seccareccia Index