This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley’s work cannot be e
The substantial prosperity that characterizes market economies at the beginning of the twenty-first century is relatively recent in human history. Prior to the Industrial Revolution, economic progress
In developing a new and highly innovative theory of economic policy, this book deals with conflicts between strategic actions by public and private agents. It builds on the Lucas critique but also applies the tools introduced by Tinbergen and Theil to dynamic policy games, and from there derives a new theory of economic policy. Its main propositions describe such properties in the models currently used for policy-making as neutrality and equilibrium existence, uniqueness, and multiplicity. These properties are key to understanding the impact of concepts such as rational expectations, time inconsistency, communication and the use of policy announcements. As the numerous examples show, they are useful both for model building and for devising optimal institutions. The Theory of Economic Policy in a Strategic Context is an essential but accessible tool for economic researchers involved in policy questions.
Various explanations have been put forward as to why the Keynesian Revolution in economics in the 1930s and 1940s took place. Some of these point to the temporal relevance of John Maynard Keynes's The
‘The welfare state’ in all its many forms has had a profound role in many countries around the world since at least the Second World War. The Routledge Handbook of the Welfare State explores the class
John Maynard Keynes is arguably the most important and influential economist of the twentieth century, and stands alongside Adam Smith and Karl Marx as one of the most famous economic thinkers of all
John Maynard Keynes is arguably the most important and influential economist of the twentieth century, and stands alongside Adam Smith and Karl Marx as one of the most famous economic thinkers of all
The recent global financial crisis has made the inadequacies of the scientific state of economics and finance glaringly obvious, as these disciplines gave the false reassurance that such a self-destru
"Engrossing, exciting [...] This book compels us to rethink our approaches to economics ..." —Literary Review of Canada"Thought-provoking and creative [...]" —Julie Nelson, author of Beyond Economic M
"Engrossing, exciting [...] This book compels us to rethink our approaches to economics ..." —Literary Review of Canada"Thought-provoking and creative" — Julie Nelson, author of Beyond Economic Man: F
