Reforming Capitalism for the Common Good

Essays in Institutional and Post-Keynesian Economics

Charles J. Whalen (Autor)

Buch | Hardcover

400 Seiten

2022
Edward Elgar Publishing Ltd (Verlag)
978-1-80392-628-5 (ISBN)

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This book of selected essays presents constructive analyses of vital economic problems confronting the United States since the 1970s, giving special attention to challenges facing working families. The analyses, produced by Charles Whalen over three decades, address the causes and consequences of macroeconomic instability, job offshoring, community economic dislocation, financialization, and income inequality. They also explore the various dimensions of worker insecurity and underscore the dynamics of an ever-changing economy. The result is a compelling case for reforming capitalism by addressing workers’ interests as an integral part of the common good, and for reconstructing economics in the direction of post-Keynesian institutionalism.

Whalen’s reformist approach builds not only on the institutional economics of John R. Commons, but also on the post-Keynesianism of Hyman Minsky, who stressed that society should be democratic and humane. To that end, the book gives attention to policy-making processes as well as policy details.

Scholars and students of economics and labor studies will appreciate the incisive analyses and real-world focus. Historians and economic sociologists will be interested in the book’s attention to the evolution of US capitalism; and policy analysts and concerned citizens will welcome its emphasis on economic reform and optimistic vision for our economic future.

Charles J. Whalen, Research Fellow, The Baldy Center for Law and Social Policy, University at Buffalo, Buffalo, NY, US

Contents:

Foreword Glen Atkinson

PART I INTRODUCTION
1. Reforming capitalism: economics at the crossroads of institutionalism and post-Keynesianism

PART II RECONSTRUCTING ECONOMICS
2. Economics must change: workforce insecurity and the need for a new political economy
3. The institutional approach to political economy
4. Post-Keynesian economics: a pluralistic alternative to conventional economics

PART III EXPLORING THE CONTEMPORARY RELEVANCE OF JOHN R. COMMONS
5. Economic insecurity and the problem-solving approach of John R. Commons
6. Saving capitalism by making it good: the monetary economics of John R. Commons
7. Social security: a view from beyond the beltway
8. Sending jobs offshore from the United States: what are the consequences?
9. Social unionism in western New York: the case of the Economic Development Group
10. Full employment with liberty: John R. Commons’s perspective and its continuing relevance
11. Human resources: the key to institutional economics after the Great Recession
12. John R. Commons and government as employer of last resort: three paths to a progressive right to work
13. The “middle way” of John R. Commons: pursuing reasonable value in the age of unreason

PART IV STANDING ON THE SHOULDERS OF HYMAN MINSKY
14. Stabilizing the unstable economy: Minsky and Simons on business cycle theory and policy
15. Budget amendment offers toxin, not tonic
16. Destabilizing an unstable economy: the erosion of automatic stabilizers Co-authored by Jeffrey Wenger
17. Money manager capitalism and the end of shared prosperity
18. Integrating Schumpeter and Keynes: Hyman Minsky’s theory of capitalist development
19. Money manager capitalism: still here, but not quite as expected
20. A Minsky perspective on the global recession of 2009
21. Economic policy for the real world
22. Minsky goes to Buffalo—and takes on the economics establishment

PART V INTEGRATING INSTITUTIONAL AND POST‑KEYNESIAN ECONOMICS
23. Post‑Keynesian institutionalism: past, present, and future
24. The post-Keynesian institutionalism of Wallace Peterson
25. Financialization and income inequality: a post-Keynesian institutionalist analysis Co-authored by David A. Zalewski
26. Post-Keynesian institutionalism and the failure of neoliberalism

Index

Erscheinungsdatum	30.08.2022
Verlagsort	Cheltenham
Sprache	englisch
Maße	156 x 234 mm
Themenwelt	Geschichte ► Teilgebiete der Geschichte ► Wirtschaftsgeschichte
	Wirtschaft ► Allgemeines / Lexika
	Wirtschaft ► Volkswirtschaftslehre ► Makroökonomie
ISBN-10	1-80392-628-7 / 1803926287
ISBN-13	978-1-80392-628-5 / 9781803926285
Zustand	Neuware