This book introduces readers to some key concepts in post-Keynesian and heterodox economics, in particular the importance of finance in relation to income distribution and growth. The book explores various aspects of financialization, such as its role in pension funds, and explores its consequences especially in developing economies.
Readers will recognize other key concepts such as the role of banks, and the effectiveness of monetary policy and its transmission mechanism, and unconventional policies, such as quantitative easing. Considerable space is given to income inequality, a topic that has become increasingly important. Authors explore the growing importance of household debt, and policies that could address inequality. Finally, the book discusses the rising importance of dualism, a much under-researched topic in heterodox economics.
Policy makers and scholars alike, especially those in Heterodox Economics, will find the book a much need addition to the field.
'This invaluable collection brings together the work of the world's leading Post-Keynesian thinkers. With great verve and originality the contributors take on most of the pressing theoretical and policy issues or our time—finance and financialization, monetary policy, economic growth, distribution, and economic dualism. This book belongs on the shelf of academic macroeconomists, their students, and every politician seeking insight and inspiration that will help get us out of the present morass.'
– Ilene Grabel, University of Denver, US
Contributors: A. Bhattacharjee, B. Bonizzi, P.G. Bortz, H. Cömert, H. de Largentaye, Ó. Dejuán, H. Delargentaye, R. du Tertre, C. Duarte, G. Dymski, A. Girón, D. Guevara, D. Leadbeater, J.S.L. McCombie, G. Michelena, V. Monvoisin, M. Nagel, J. Perraton, N. Perry, L.-P. Rochon, C. Schönerwald, M. Solorza, M. Spanò, H. Szymborska, M. Thiemann, F. Toledo.
Edited by Louis-Philippe Rochon, Full Professor of Economics, Laurentian University, Canada and Co-Editor of Review of Political Economy and Virginie Monvoisin, Associate Professor, Grenoble Ecole de Management, France.