Modern mainstream economics is attracting an increasing number of
critics of its high degree of abstraction and lack of relevance to
economic reality. Economists are calling for a better reflection of
the reality of imperfect information, the role of banks and credit
markets, the mechanisms of economic growth, the role of
institutions and the possibility that markets may not clear. While
it is one thing to find flaws in current mainstream economics, it
is another to offer an alternative paradigm which can explain as
much as the old, but can also account for the many 'anomalies'.
That is what this book attempts. Since one of the biggest empirical
challenges to the 'old' paradigm has been raised by the second
largest economy in the world - Japan - this book puts the proposed
'new paradigm' to the severe test of the Japanese macroeconomic
reality. In the process, the many 'puzzles' surrounding Japan's
economy are explained. However, the new paradigm is found
applicable far beyond Japan and provides a consistent explanation
of events in many industrialised economies and emerging markets. It
also overturns the 'Washington consensus' package of economic
development policies and presents
|Country of origin:
||216 x 140 x 26mm (L x W x T)
Business & Economics >
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!