Re-examining Monetary and Fiscal Policy for the 21st Century

Philip Arestis, University Director of Research, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge and Fellow, Wolfson College, UK and Malcolm Sawyer, Emeritus Professor of Economics, University of Leeds, UK

This book provides a much-needed re-examination of monetary and fiscal policies, their application in the real world and their potential for macroeconomic policy in the 21st century. It provides a detailed discussion and critique of the ‘new consensus' in macroeconomics along with the monetary and fiscal policies encapsulated within it.

‘. . . the book is original and well-organized. And perhaps most importantly, it brings macroeconomics back to the realm of political economy where depth, rigour, controversy and rhetoric are equally important.’
– Oscar De-Juan, Review of Political Economy

“总的来说,这本书提供了一个critical and appealing perspective on contemporary topics in macroeconomics and economic policy and certainly would interest policy makers, scholars, and students in these fields. The arguments presented are clear and straightforward, and the reader is led to question some common beliefs in the economics profession and to evaluate which ones are sensible and which ones are simply nonsense.’
– Gilberto Libanio, Journal of Economic Issues

‘This is an incisive analysis explaining why the conventional wisdom regarding the role of monetary and fiscal policy has failed to create a full employment economy for European nations. This is followed by a thoughtful examination of how the nations of Euroland can achieve a prosperous economy through the proper use of fiscal and monetary policies. A must read for policymakers, economists and concerned citizens.’
– Paul Davidson, Journal of Post Keynesian Economics and New School University, New York, US

‘Philip Arestis and Malcolm Sawyer offer us an accessible, insightful account of the major issues in current macroeconomics. No one reading his book will doubt the poverty and incoherence of the modern orthodoxy, nor the sad results, especially in underachieving Europe. Nor can one escape the urgent case for the new departures to which the authors have provided this excellent guide.’
– James K. Galbraith, University of Texas, Austin, US