Financial Markets, Money and the Real World

Paul Davidson, Holly Chair of Excellence Emeritus, University of Tennessee, US and Founding Editor of the Journal of Post Keynesian Economics

Paul Davidson investigates why the 1990s was a decade of financial crises that almost precipitated a global market crash. He explores the reasons why the global economy still struggles with the aftermath of these crises and discusses the possibility that volatile financial markets in the future will have real impacts on whole industries and national economic systems.

‘Financial Markets, Money and the Real World by Paul Davidson is an informed and informative study of why the 1990s experienced a series of financial crises with terrible repercussions that reverberated throughout the global market. Focusing on the central role that domestic and international financial markets play in affecting the economic growth rate, and offering prescriptions to improve worldwide economic viability in the 21st century, Financial Markets, Money and the Real World is highly practical, forward thinking, and strongly recommended reading for students of economics in general, and the interactive, interdependent global financial markets in particular.’
-库Bookwatch /中西部Book Review

‘In Financial Markets, Money and the Real World Professor Davidson lucidly and persuasively sums up his major insights into the working of “non-ergodic” (uncertain) economic systems. It is essential reading for those who wish to understand why financial markets have become so volatile and are puzzled to know what to do about it. It is refreshing to read an author who writes so much in the spirit of Keynes and who is able and willing to develop Keynes’s ideas creatively and apply them imaginatively to the understanding and management of today’s globalized economy.’
– Lord Skidelsky, University of Warwick, UK

‘This book should be a classic in economics. Paul Davidson combines dazzling clarity and a passion for economic truth and common sense in illuminating the dark thickets surrounding today’s free enterprise system. Professional economists and concerned citizens should both pay heed to this fine book.’
– Peter L. Bernstein, Peter L. Bernstein Inc., US

‘Professor Paul Davidson has long been a major avenue to the economic reality and the controlling economic ideas, especially those that have come into professional discussion with and since John Maynard Keynes. This is a major contribution, deserving the close attention of economists and all who seek accomplished economic guidance. I strongly recommend it.’
– John Kenneth Galbraith, Harvard University, US

‘Throughout the long, dark years of laissez-faire triumphalism, Paul Davidson lovingly tended the eternal flame of Keynes and ensured that it never went out. There is no better qualified economist to explain – as this book does – why Keynes is still relevant to a world pock-marked with the financial crises, poverty and unemployment that have resulted from neglecting his profound insights.’
– Larry Elliott, The Guardian