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Louis- Philippe Rochon and Sergio Rossi

Rethinking economics is a dramatically urgent necessity in light of the damages caused by the 2008 global financial crisis, resulting from the dominance of mainstream economics. Economic policies implemented since the early 1980s in many countries have induced lower economic growth, higher rates of involuntary unemployment and more income and wealth inequalities than in the previous three decades. A decade after the beginning of this crisis, policy is still unable to provide all citizens with greater economic comforts. This volume contributes to rethinking economics by providing readers at all levels with thoughtful contributions on a range of topics.

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James Crotty

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Edited by Louis-Philippe Rochon and Sergio Rossi

Since the beginning of the 21st century, there has been an unprecedented move towards ‘rethinking economics’. This book contributes to this worldwide discussion by providing readers at all levels with thoughtful contributions on a range of economic topics. The book includes chapters on rethinking fiscal and monetary policies, international trade, the role of the state, money, growth, the environment, development policies, energy, healthcare and more. Written by top experts in their respective fields, this book will be useful to students and faculty who want to not only rethink economics, but also to offer an alternative and coherent economic analysis to the orthodoxy.
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Steven Pressman

Policymakers have adopted two main antipoverty approaches in the United States. First, they have emphasized developing human capital, enabling workers to earn higher wages. Second, transfer programmes have provided a safety net for low-income citizens. This chapter advocates an alternative approach: using social insurance programmes to reduce poverty without creating negative incentives. It then looks at programmes focusing on three different age groups: (1) child allowances and paid parental leave, (2) unemployment and disability insurance and (3) old-age pensions. It finds these programmes effective in reducing poverty throughout the developed world, especially in Nordic countries with generous social insurance benefits.

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Esteban Pérez Caldentey

This chapter argues that the unsatisfactory performance and dim future prospects of developing economies demand rethinking the theoretical foundations of development economics by fostering a dialogue and collaboration between structuralist and post-Keynesian economics. This collaboration can be centred on five themes: (i) a methodological approach based on historical trends and measurement; (ii) the characterization of the system of economic relations around the concepts of centre and periphery; (iii) the relation between income distribution, accumulation and economic growth; (iv) the central role of demand and (v) the role of the State.