Описание: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism. The global financial crises of recent years have made it painfully clear that psychological forces can imperil the wealth of nations. From blind faith in ever-rising housing prices to plummeting confidence in capital markets, `animal spirits` drive financial events worldwide. In this book, economists George Akerlof and Robert Shiller present a serious alternative to the standard economic theory that has failed to account for these essential human factors, and provide a radical new way to think about the economy.
Описание: Does rapid population growth diminish countries` economic development prospects? Do policies aimed at reducing high fertility help families escape poverty? These questions have been at the heart of policy debates since the time of Malthus and in this carefully title the authors offer a nuanced, yet clear and positive answer to these questions.
Описание: The effect of demography on economic performance has been the subject of debate in economics since the 18th century. This volume, based on a collection of papers that heavily rely on data from the 1980s and 1990s and on new analytical approaches, sheds light on demographic-economic relationships.
Perhaps no economist was more vindicated by the global financial crisis than Hyman P. Minsky (1919-96). Although a handful of economists raised alarms as early as 2000, Minsky's warnings began a half-century earlier, with writings that set out a compelling theory of financial instability. Yet even today he remains largely outside mainstream economics; few people have a good grasp of his writings, and fewer still understand their full importance. Why Minsky Matters makes the maverick economist's critically valuable insights accessible to general readers for the first time. L. Randall Wray shows that by understanding Minsky we will not only see the next crisis coming but we might be able to act quickly enough to prevent it.
As Wray explains, Minsky's most important idea is that "stability is destabilizing": to the degree that the economy achieves what looks to be robust and stable growth, it is setting up the conditions in which a crash becomes ever more likely. Before the financial crisis, mainstream economists pointed to much evidence that the economy was more stable, but their predictions were completely wrong because they disregarded Minsky's insight. Wray also introduces Minsky's significant work on money and banking, poverty and unemployment, and the evolution of capitalism, as well as his proposals for reforming the financial system and promoting economic stability.
A much-needed introduction to an economist whose ideas are more relevant than ever, Why Minsky Matters is essential reading for anyone who wants to understand why economic crises are becoming more frequent and severe--and what we can do about it.
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