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Law and Macroeconomics

Legal Remedies to Recessions

(Autor)

Buch | Hardcover
280 Seiten
2019
Harvard University Press (Verlag)
978-0-674-97605-4 (ISBN)
CHF 73,20 inkl. MwSt
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After 2008, private-sector spending took a decade to recover. Yair Listokin thinks we can respond more quickly to the next meltdown by reviving and refashioning a policy approach, used in the New Deal, to harness law’s ability to function as a macroeconomic tool, stimulating or relieving demand as required under certain crisis conditions.
A distinguished Yale economist and legal scholar’s argument that law, of all things, has the potential to rescue us from the next economic crisis.

After the economic crisis of 2008, private-sector spending took nearly a decade to recover. Yair Listokin thinks we can respond more quickly to the next meltdown by reviving and refashioning a policy approach whose proven success is too rarely acknowledged. Harking back to New Deal regulatory agencies, Listokin proposes that we take seriously law’s ability to function as a macroeconomic tool, capable of stimulating demand when needed and relieving demand when it threatens to overheat economies.

Listokin makes his case by looking at both positive and cautionary examples, going back to the New Deal and including the Keystone Pipeline, the constitutionally fraught bond-buying program unveiled by the European Central Bank at the nadir of the Eurozone crisis, the ongoing Greek crisis, and the experience of U.S. price controls in the 1970s. History has taught us that law is an unwieldy instrument of macroeconomic policy, but Listokin argues that under certain conditions it offers a vital alternative to the monetary and fiscal policy tools that stretch the legitimacy of technocratic central banks near their breaking point while leaving the rest of us waiting and wallowing.

Yair Listokin is the Shibley Family Fund Professor of Law at Yale Law School. He has been honored with a Milton Friedman Fellowship from the Becker-Friedman Institute at the University of Chicago and has served as a Visiting Professor at Columbia Law School, Harvard Law School, and New York University School of Law. His research has been featured in the Wall Street Journal, Fortune, cnn.com, Boston Globe, and Slate.

Erscheinungsdatum
Zusatzinfo 17 illus.
Verlagsort Cambridge, Mass
Sprache englisch
Maße 156 x 235 mm
Themenwelt Recht / Steuern EU / Internationales Recht
Recht / Steuern Wirtschaftsrecht Bank- und Kapitalmarktrecht
Wirtschaft Volkswirtschaftslehre Finanzwissenschaft
Wirtschaft Volkswirtschaftslehre Makroökonomie
ISBN-10 0-674-97605-3 / 0674976053
ISBN-13 978-0-674-97605-4 / 9780674976054
Zustand Neuware
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