The other half of macroeconomics and the fate of globalization
By: Richard C. Koo
Publisher: John Wiley & Sons, Ltd
Published: 2018
Language: eng
Number of pages: 303
ISBN-13: 9781119482154
Subjects: Macroeconomics; Globalization; Economics; Economic aspects
Description: The failure of the vast majority of economists in government, academia and the private sector to predict either the post-2008 Great Recession or the degree of its severity has raised serious credibility issues for the profession. The repeated failures of central banks and other policymakers in all advanced countries to meet their inflation or growth targets in spite of astronomical monetary easing, have left the public rightfully suspicious of the establishment and its economists. The Other Half of Macroeconomics and the Fate of Globalization elucidates what was missing in economics all along and what changes are needed to make the profession relevant to the economic challenges of today. Once the other half of macroeconomics is understood both as a post-bubble phenomenon and as a phase of post-industrial economies, it should be possible for policy makers to devise appropriate measures to overcome difficulties advanced countries are facing today such as stagnation and income inequality.--
Notes: Includes bibliographical references and index.
Table of contents: title: Introduction to the other half of macroeconomics; title: Balance sheet problems create shortage of borrowers; title: Dearth of investment opportunities can deter borrowers; title: Macroeconomic policy during the three stages of economic development; title: Challenges of remaining an advanced country; title: Helicopter money and the QE trap; title: Europe repeating mistakes of 1930s; title: Banking problems in the other half of macroeconomics; title: The Trump phenomenon and the conflict between free capital flows and free trade; title: Rethinking economics.