Rethinking Capitalism : Economics and Policy for Sustainable and Inclusive Growth.

Intro -- Table of Contents -- Title -- Copyright -- Dedication -- Acknowledgements -- Notes on Contributors -- 1. Rethinking Capitalism: An Introduction -- Capitalism and its discontents -- Rethinking economic policy -- Beyond market failure: towards a new approach -- Notes -- 2. The Failure of Austerity: Rethinking Fiscal Policy -- Introduction -- 'Deficits saved the world' -- The fiscal retreat and the monetary plunge -- A balanced budget or a balanced economy? -- Notes -- 3. Understanding Money and Macroeconomic Policy -- Introduction -- The orthodox view: exogenous money -- Endogenous money and modern money theory -- Money and monetary policy -- Quantitative easing -- Implications for the euro zone: the re-integration of money and fiscal policy -- Conclusion -- Notes -- 4. The Costs of Short-termism -- Introduction -- The literature on short-termism -- Empirical evidence of short-termism -- Policy implications -- Notes -- 5. Innovative Enterprise and the Theory of the Firm -- Introduction: what makes capitalism productive? -- The neoclassical theory of the unproductive firm -- The Marxian theory of the productive firm -- The theory of innovative enterprise -- The integration of theory and history -- Notes -- 6. Innovation, the State and Patient Capital -- Introduction -- Headed in the wrong direction -- Orthodox economic theory and the 'market failure' approach -- The state as a key actor in the innovation system -- Public rewards for public risk-taking -- Patient capital: the role of state on how to better align risks and rewards investment banks -- Conclusion -- Notes -- 7. Investment-led Growth: A Solution to the European Crisis -- Introduction -- Underinvestment and economic stagnation in Europe -- The current EU policy framework -- A proposal for investment-led European recovery -- Projected impacts of the proposals -- Conclusion.

Appendix: The Cambridge Alphametrics Model (CAM) -- Acknowledgements -- Notes -- 8. Inequality and Economic Growth -- Introduction -- The great rise of inequality -- Explaining inequality -- The price of inequality -- Reversing inequality -- Conclusion: redefining economic performance -- Acknowledgements -- Notes -- 9. The Paradoxes of Privatisation and Public Service Outsourcing -- Introduction -- The limits to competition -- The mutual convertibility of economic and political resources -- Conclusion: capitalism and democracy -- Notes -- 10. Decarbonisation: Innovation and the Economics of Climate Change -- Introduction -- The challenge to capitalism -- The challenge to economics -- Innovation and growth -- Path-dependence and innovation -- Economic models -- Climate change policy -- Conclusion -- Notes -- 11. Capitalism, Technology and a Green Global Golden Age: The Role of History in Helping to Shape the Future -- Introduction: growth without technology or sustainability without growth? -- Technological revolutions and economic development -- ICT and the green direction -- 'Green growth', development, jobs and inequality -- A radical reshaping of the policy framework -- Acknowledgements -- Notes -- Index -- End User License Agreement.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.