Macroeconomics And The Development Of Political Economic Theory
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Macroeconomics and the Development of Political Economic Theory by Brett John Cormick Pdf
This wide-ranging study of political economic theory, designed for A level economics students and undergraduates, traces the development of economics as a social science, from Adam Smith and John Stuart Mill through to Friedman and the Neo-Liberals.
The Macroeconomics of Corruption by Maksym Ivanyna,Alex Mourmouras,Peter Rangazas Pdf
This textbook examines corruption through a macroeconomic lens, exploring the relationship between corruption, fiscal policy, and political economy. It merges macroeconomic growth models with elements of political economic theory to address important applied topics such as income inequality within and across countries, growth slowdowns, and fiscal crises. Revised and updated to include new research findings and recent policy discussions, the second edition contains 15 new sections and 2 new chapters on topics such as public defaults, the wage elasticity of work and the interest elasticity of saving, and the economic and fiscal impact of the 2020 pandemic. Most of the basic ideas are illustrated using a two-period model of government investment that captures the future cost of policies that favor the present. The more subtle and advanced issues are illustrated and, in some cases, quantified, using the overlapping-generations model of economic growth. The models used to illustrate the mechanisms of economic growth are extended to incorporate politics and the behavior of public official. The text concludes with a thorough discussion of policy reforms designed to address the issues discussed in earlier chapters. Intended for students familiar with intermediate-level economics, the second edition contains a technical appendix, expanded end-of-chapter questions and problems, and a complete solutions manual. The second edition also offers updated resources for instructors, including sample syllabi and over 550 multiple choice questions. Offering a unified explanation for the causes and consequences of government failure, fiscal crisis, and needed policy reforms, this text is appropriate for advanced undergraduate and beginning graduate courses in macroeconomics, political economy, and public policy.
Political Economy and Contemporary Capitalism by Ron P. Baiman,Heather Boushey,Dawn Saunders Pdf
This volume covers the theoretical method, macroeconomics, microeconomics, international trade and finance, development, and policy of economic theory. It incorporates various alternative approaches as well as a broad spectrum of policy issues.
Deals with research and scholarship in economic theory. Presents analytical, interpretive, and empirical studies in the areas of monetary theory, fiscal policy, labor economics, planning and development, micro- and macroeconomic theory, international trade and finance, and industrial organization. Also covers interdisciplinary fields such as history of economic thought and social economics.
Political Economy in Macroeconomics by Allan Drazen Pdf
Allan Drazen focuses on the implications of political and economic outcomes rather than polictical and public choice per se limiting his coverage to macroeconomics.
The Political Economy of Macroeconomic Policy Reform in Latin America by Eduardo Wiesner Pdf
This book is a must read for anyone interested in policy reforms in Latin America. The author combines tremendous experience in the field and deep knowledge of economic theory: a rare combination. Alberto Alesina, Harvard University, US One of the key contributions of this book is its insistence on the importance of policy, institutional and political accountability for evaluating and enhancing macroeconomic performance and for reducing inequality. John B. Taylor, Stanford University and Hoover Institution, US Dr Wiesner combines a command of modern political and economic theories and detailed knowledge of Latin America to clarify why reform of policies and institutions has proved so difficult in that region. His general conclusion is that initial conditions of inequality and poverty reduce the demand for reform, but he finds that the process manifests itself differently in different countries. He identifies several necessary conditions for breaking out of these vicious circles. Scholars and practitioners alike can learn from his impressively thorough and detailed analysis. Avinash K. Dixit, Princeton University, US This book argues insightfully that underdevelopment is the result of the political economy difficulties some countries have in the effectiveness of public expenditures in general and of social pro-poor expenditures in particular. The policy implication is that reform strategies should focus on identifying the wrong political incentives in public expenditures. Ricardo Hausmann, Harvard University, US Eduardo Wiesner s book makes an important contribution to the understanding of development by blending together the interdependent issues of (i) macroeconomic performance and volatility, (ii) equity and distributive justice, (iii) fiscal deficits and the redistributive effectiveness of social public expenditures, and (iv) the demand for the right institutions and for policy reform in Latin America. It does this by examining recent macroeconomic crises from a political economy perspective, and finds that information is the critical algorithm that links together the demand for macroeconomic stability, macroeconomic performance and, ultimately, distributive justice. This volume is geared toward those interested in the political economy of development and policy reform in general and in Latin America, including academics, policy makers, and the general reader.
Interactions in Analytical Political Economy by Mark Setterfield Pdf
In this interactive collection of essays, many of the leading proponents of analytical political economy examine major macroeconomic issues through the integration of mathematical analysis and non-neoclassical economic theory. The topics covered include the macroeconomics of the labor market, open economy issues, economic growth, and macroeconomic policy. The chapter-comment-reply format of the book creates a genuine dialogue on each theme, and evokes a sense of unfolding debate which draws the reader into the discussion.
This book explores the life of the man whom even his critics acknowledged was one of the world's most significant Communist economists. From his outpost at the University of Cambridge, where he was a protégé of John Maynard Keynes and mentor to students, Dobb made himself into one of British communism's premier intellectuals.
Essays in the History of Mainstream Political Economy by Warren J. Samuels Pdf
This book is a collection of articles on schools, individuals and topics within the mainstream of the history of economic thought. The principal schools are the Physiocrats and the English Classical Economists. The principal individuals are Francois Quesnay, Adam Smith, Thomas Malthus, Francis Y. Edgeworth, Friedrich von Wieser, Frank W. Taussig, and William H. Hutt. The principal topics include the economic role of government, power, the psychology of economics, and the early history of macroeconomics.
An Outline of the History of Economic Thought by Ernesto Screpanti,Stefano Zamagni Pdf
This book provides a comprehensive overview of the development of economics from its beginnings, at the end of the Middle Ages, up to contemporary developments. It is strong on contemporary theory, providing extensive coverage of the twentieth century, particularly since the Second World War. The second edition has been revised and updated to take account of new developments in economic thought.
Capital Theory and Political Economy by Lefteris Tsoulfidis Pdf
In recent years, there have been a number of new developments in what came to be known as the "Capital Theory Debates". The debates took place mainly during the 1960s as a result of Piero Sraffa's critique of the neoclassical theory according to which the prices of factors of production directly depend on their relative scarcities. Sraffa showed that when income distribution changes, there are many complexities developed within the economic system impacting on prices in ways which are not possible to predict. These debates were revisited in the 1980s and again more recently, along with a parallel literature that has developed among neoclassical economists and has also looked at the impact of shocks on an economy. This book summarizes the debates and issues around the theory of capital and brings to the fore the more recent developments. It also pinpoints the similarities and differences between the various approaches and critically evaluates them in light of available empirical evidence. The focus of the book is on the price trajectories induced by changes in income distribution and the resulting shape of the wage rates of profit curves and frontier. These issues are central to areas such as microeconomics, international trade, growth, technological change and macro stability analysis. Each chapter starts with the theoretical issues involved, followed by their formalization and subsequently with their operationalization. More specifically, the variables of the classical theory of value and distribution are rigorously defined and quantified using actual input–output data from a number of major economies, but mainly from the USA, over long stretches of time. The empirical results are not only consistent with the anticipations of the theory but also further inform and therefore strengthen its predictive content raising new significant questions.
Conflict, Demand and Economic Development by Deepankar Basu,Debarshi Das Pdf
This book presents a comprehensive overview of three key areas: heterodox macroeconomics, development economics and classical political economy. It offers an alternative macroeconomic framework to analyse policies with an emphasis on issues of equity and justice. With contributions by leading economists from across the world, it examines the growth and distribution of income; trade and finance in developing countries; classical political economy and Marxist theory; dualism in the US economy; economic crisis; and agrarian economy in poor countries. It explores themes such as the effect of an exogenous shock to wage share; Harrodian instability and Steindlian solutions; economics and politics of social democracy; the role of power in the macroeconomy; economic development through the promotion of domestic value chains; and reflections on primitive accumulation. Going beyond the neo-classical tradition, the volume opens up a new vista of economics by discussing unexplored questions. It provides a refreshing treatment of time-tested ideas as well as discussions of recent developments and current research. A major intervention in heterodox macroeconomics and a tribute to macroeconomist Amit Bhaduri, this book will be useful to scholars and researchers of economics, political economy, development studies, sociology, political science, public administration, economic theory, economic history, economic geography and critical studies, as well as professionals, economists and policymakers.
The Political Economy of Post-adjustment by Hakim Ben Hammouda Pdf
This title was first published in 2003. Hammouda's text focuses on modernization experiences in the South which, in the 80s had reached their limits, with the adoption of structural adjustment programmes in most countries. Yet, such Washington Consensus inspired programmes met difficulties in initiating new growth dynamics in these countries and in improving their international insertion. Hence, a new era termed post-adjustment by the author has been ushered in, one which is characterized by a decline of structural adjustment programmes and through dynamic and plural research, is striving to introduce new theoretical practices and development strategies. This book is a contribution to such debate.
Macroeconomics as Systems Theory by Richard E. Wagner Pdf
This book examines macroeconomic theory from an analytical framework provided by theories of complex systems, in contrast to conventional theories founded on aggregation. The resulting difference in analytical perspectives is huge: the macro level of society is not pursued through aggregation over micro entities. To the contrary, the micro-macro relation is treated as one of parts-to-whole, and this relation is approached from within an ecological scheme of thought. A society is a complex ecology of plans. That ecology, however, is not reducible to a single plan. Conventional macro theory presents a national economy as a collection of such aggregate variables as output, employment, investment, and a price level, and seeks to develop theoretical relationships among those variables. In contrast, the social-theoretic approach to macro or social theory in this book treats the standard macro variables as having been shaped through social institutions, conventions, and processes that in turn are generated through interaction among economizing persons. The object denoted as macro is thus of a higher order of complexity than the object denoted as micro.