Suchergebnisse

Front Cover -- HANDBOOK OF ECONOMIC STAGNATION -- HANDBOOK OF ECONOMIC STAGNATION -- Copyright -- Contents -- Contributors -- Introduction: Handbook on economic stagnation -- Overview of the contributions to this volume -- Part A: Secular stagnation: theory, causes, and evidence -- Hein: Stagnation policy: a Steindlian perspective -- Skott: Growth and stagnation in mature and dual economies -- Storm: The secular stagnation of productivity growth -- Kotz: Stagnation and social structures of accumulation -- Hein: Financialization and stagnation-a macroeconomic regime perspective -- Fazzari: Hyman Minsky meets secular stagnation -- Nikiforos: Demand, distribution, productivity, structural change, and (secular?) stagnation -- Podkaminer: Economic stagnation in the Euro area -- Part B: Secular stagnation in the Global South -- Akyüz: Inequality, stagnation, financialization, and the Global South -- Bresser-Pereira, Feijó, and Araújo: Does the liberal policy regime condemn Latin America to quasi-stagnation? -- Blecker: Mexico: unequal integration and "stabilizing stagnation" -- Huerta: The stagnation of the Mexican economy is here to stay -- Ferrari-Filho: The Brazilian stagnation and an economic agenda to ensure macroeconomic stability and social development -- Part C: The return of big government and economic prospects after the pandemic -- Wray: The role of big government: an introduction -- Dantas and Wray: Secular stagnation: as good as it gets? -- Tymoigne: Secular stagnation and the age of ultra-low interest rates -- Mattos: Monetary policy after the crisis-a Post-Keynesian critique -- Nersisyan and Wray: Biden's build back better proposal and the future of secular stagnation -- A - Secular stagnation: theory, causes, and evidence.

This timely book presents a critical examination of the developmental premises of Japan's high-growth success and its subsequent drift into recession, stagnation and piecemeal reform. The country, which within a few decades of wartime defeat mounted a serious challenge to American hegemony, appeared incapable of fully adjusting to shifting economic circumstance once the impulses of catch-up growth and the good fortune of an accommodating international environment faded. The banking crises, spiralling government debt, and stagnant growth experienced by major industrialized nations in recent years have evoked renewed interest in Japan's economic denouement since the 1990s. To many, Japan's drift into recession and financial crisis during the early 1990s, and later into stagnation and prolonged deflation, demonstrated precisely what not to do when fashioning remedial policy. This book details the legacies of Japan's high-growth success and how they affected Japan's capacity to cope with shifting national and international circumstance from the 1980s. It reviews the contentious debates over the causes and consequences of the 'bubble economy' and the 'lost decade', and assesses the extent to which reforms since 1997 have been compromised by lingering attachments to Japan's distinctive post-war political economy. Providing an analytical overview of both the high growth and recessionary periods and of subsequent reform agendas, this timely book will appeal to students, academics and researchers of economic history, development and politics, particularly those with an interest in Japan and Asian studies more generally.

These lectures contain a masterful summing-up of Nicholas Kaldor's critique of the foundations of mainstream economic theory. They provide a clear account of his theoretical structures on regional differences, primary producers and manufacturers, and on differing market structures and the likely course of prices and quantities in different markets over time. The first four lectures are concerned with theory, history and explanation; the fifth consists of a detailed set of integrated policy proposals. The book is rounded off with a brilliant biographical essay by Tony Thirlwall

"The Global Financial Crisis and the following period of 'secular stagnation' have raised questions about the state of modern economics and macroeconomics in particular. This has had repercussions for social sciences that deal with economic issues. In particular in the fields of International Political Economy (IPE) and Comparative Political Economy (CPE) there is rising interest in non-mainstream macroeconomic theories (Blyth and Matthijs 2017, Baccaro and Pontussen 2016). In CPE there is a recognition that the field has in the past decades increasingly shifted to institutional and microeconomic questions and disregarded Keynesian considerations of macroeconomic instability and problems of fallacies of composition (Schwartz and Tranoy 2019). The purpose of this chapter is to give an overview of post-Keynesian economics (PKE) as a non-mainstream macroeconomic theory."

"As the global Great Recession continues, policymakers, economists, and the public are turning to Japenses economic revitalization for answers. Paul Krugman, Nobel laureate in Economics, once said that Japan was a 'full-dress rehearsal for the current crisis.' Japan has experienced and valiantly overcome the burst of their Bubble economy, financial crisis, lukewarm recovery, and more than a decade-long deflation and stagnation to become one of the most stable economies today. Japan's Great Stagnation and Abenomics chronicles Japan's Great Stagnation and reveals the striking similarities of economic events and policies between the Great Stagnation and the current Great Recession. It also suggests possible dangers ahead and way-outs in the future. This exciting new volume is based on Wakatabe's expertise in economic history and the history of economic ideas and argues that any policy decision is related to cultural ideology. An investigation into the relationship between cultural ideology and policy helps us better understand the policy-making process"--