Overview
- Builds the case for a permanent and inclusive job guarantee
- Argues that equitable full employment and ecological sustainability should replace growing the economy as the goals of policy makers
- Draws from Post-Keynesian and behavioral economics traditions to show an alternative to orthodox macroeconomics
Part of the book series: Global Institute for Sustainable Prosperity (GISP)
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About this book
The central argument of this book is that the foundations for sustainable prosperity lie in an approach to economic management based on modern monetary theory and a job guarantee. This approach builds on the work of Keynes, Kalecki, Minsky, Davidson, Godley and other Post- Keynesian economists—as well as research by behavioral economists including Simon, Kahneman and Loewenstein—to explore the role that a permanent, equitable job guarantee could play in building an inclusive, participatory and just society. Orthodox (neoclassical) economics, in its various forms, has failed to deliver sustainable prosperity. An important reason for this failure is its lack of realistic foundations. It misrepresents both human nature and economic institutions, and its use as a frame for the development and assessment of economic policy proposals has had disastrous consequences for social inclusion and the quality of life of millions of people. This book discusses an alternative, more realistic and moreuseful set of economic foundations, which could deliver the opportunity of a decent quality of life with dignity to all.
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Keywords
Table of contents (8 chapters)
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Front Matter
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Back Matter
Authors and Affiliations
About the author
Steven Hail is a Research Scholar at the Binzagr Institute for Sustainable Prosperity and a Lecturer in the School of Economics at the University of Adelaide in South Australia. During the 1990s, he trained staff from many international banks and the Bank of England. He now teaches modern monetary theory and regularly writes magazine articles and appears in podcasts relating to MMT.
Bibliographic Information
Book Title: Economics for Sustainable Prosperity
Authors: Steven Hail
Series Title: Global Institute for Sustainable Prosperity
DOI: https://doi.org/10.1007/978-3-319-90981-3
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s) 2018
Hardcover ISBN: 978-3-319-90980-6Published: 24 May 2018
Softcover ISBN: 978-3-030-08148-5Published: 10 January 2019
eBook ISBN: 978-3-319-90981-3Published: 11 May 2018
Series ISSN: 2730-5511
Series E-ISSN: 2730-552X
Edition Number: 1
Number of Pages: XI, 289
Number of Illustrations: 24 b/w illustrations
Topics: Macroeconomics/Monetary Economics//Financial Economics, Heterodox Economics, Behavioral/Experimental Economics, Social Choice/Welfare Economics/Public Choice/Political Economy