This book is the intellectual legacy of Wynne Godley, the famous
British economist who was the head of the Department of Applied
Economics at the University of Cambridge for nearly 20 years, after
having been deputy director of the Economic section at the UK
Treasury. These selected writings are useful not only as a summary
of the evolution of Godley's analysis, but also equip economists
with new tools for the achievement of sustainable economic growth.
Professor Godley's work always originated from puzzles in the real
world economy, rather than from curiosities in economic models, and
his work has retained its practicality; the stock-flow models have
proved to be effective in predicting recent recessions. These
essays present Godley's challenge to accepted wisdom in the field
of macroeconomic modelling, which, in his opinion, did not reflect
the economics that he had learned by working on practical matters
for the Treasury in the 1960s. Godley developed post-Keynesian
traditions and created models which fully integrate theory with the
financial system and real demand and output.
|Country of origin:
• Gennaro Zezza
||Electronic book text
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