By Ha-Joon Chang
How does the worldwide economic climate work?
What do various fiscal theories let us know in regards to the world?
In Economics: The User's Guide, bestselling writer Ha-Joon Chang explains how the worldwide financial system works, and why an individual can comprehend the dismal technology. not like many economists who declare there's just one approach of 'doing economics', he introduces readers to a variety of financial theories, from classical to Keynesian, revealing how all of them have their strengths, weaknesses and blind spots. via ignoring the bought knowledge, and exposing the myriad forces that form our monetary destiny, Chang presents the instruments that each dependable citizen must comprehend - and tackle - our present fiscal woes.
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Extra info for Economics: The User's Guide: A Pelican Introduction (Pelican Books)
Keynes once remarked that perhaps one day the material wants of all human beings would be satiated somehow; however, it is the ‘idea’—good or bad—which would keep hitting the political and economic space in different ways. These words from Keynes hold good as far as neoliberalism as an idea of political economic worldview is concerned. In fact, Hayek too echoed the same viewpoint. Hayek, author of key texts such as The Constitution of Liberty, presciently argued that the battle for ideas was key, and that it would probably take at least a generation for the battle to be won, not only against Marxism but against socialism, state planning, and Keynesian interventionism (Harvey 2007, p.
Mitra et al. 1007/978-981-10-1037-8_2 27 28 B. Dasgupta as in the developed capitalist world, formal labour market rules and regulations are also extended to parts of the services sector. If the immediate post–World War II era was marked with a growing tendency of enacting rules and regulations for labour in the formal sector of the economy, the neoliberal era thereafter for the past three decades has been marked with growing deregulations of rigid labour rules. This to our understanding is grossly related to the nature of capital accumulation in the neoliberal age.
However, in our understanding it has a closed link with the new finance which shapes the global capital today. Neoliberalism with all its characteristic features desire that labour would always remain footloose in the interests of huge capital accumulation. The very question of labour in transit appears today as a never-ending process of evolution of this transition of labour to render labour as much cheap as possible and feasible. If one adheres to the classfocused Marxist approach (Resnick and Wolff 1987), then this journey of living labour needs to be understood in terms of the transition of several coexisting heterogeneous class processes as per the dictate of global capital in a post-colonial space.
Economics: The User's Guide: A Pelican Introduction (Pelican Books) by Ha-Joon Chang