Andrew Brown

Philip Arestis

Malcolm C. Sawyer

The authors offer a sustained argument that the single currency as currently implemented does not promise to deliver prolonged growth. They contend that the economic impact of the euro, and its accompanying institutions, is likely to be destabilising and deflationary; that the political impact is profoundly undemocratic and that the social consequences are likely to be deleterious. They do not reject the concept of a single currency but are highly critical of policy arrangements such as the Stability and Growth Pact which govern the euro. The authors propose alternative policy and institutional arrangements within which the euro should be embedded. They demonstrate that these would have the benefits of a single currency whilst avoiding many of the potential costs identified by detractors.

Evolution and Prospects

The Euro

. . . this is a very good book. It is carefully argued and well presented, incorporating a wealth of information. Andrew Mearman, Economic Issues Over the past two decades there has been a prevailing shift in economic policy in many countries. This reflects the continuing rise of neo-liberalism the doctrine that economic policy should leave it to the market and that governments should retreat from market intervention. This book provides a balanced and comprehensive appraisal of these important policy developments. The authors examine the most notable trends in neo-liberal economic policy such as the withdrawal from the use of fiscal measures and the reliance on monetary policy. They discuss the neo-liberal view that the causes of unemployment lie in the operation of the labour market, in particular its inflexibility. They also assess the increasing inclination towards the liberalisation and deregulation of markets, most notably financial markets. In light of these developments, the authors investigate several specific areas including: an assessment of the theory of credibility financial fragility and the development process a reappraisal of the Rehn Meidner Model for Sweden the economic policy of the Spanish socialist governments the costs of neomonetarism in Brazil macroeconomic policies of the EMU. The contributors expertly illustrate the ways in which neo-liberal policies have been applied and implemented. They also seek to show the shortcomings of the neo-liberal approach and illustrate the different policy models available. As such, this volume will interest and inform academics, economists and policymakers looking for a detailed critique of recent developments in economic policy.

Critical Essays

Neo-liberal Economic Policy

Consists of over 30 major contributions that explore a range of work on money and finance. The contributions in this handbook cover the origins and nature of money, detailed analyses of endogenous money, surveys of empirical work on endogenous money and the nature of monetary policy when money is endogenous.

A Handbook of Alternative Monetary Economics

The growth of neo-liberalism has been the dominant political force in the past two decades. This volume concentrates on understanding the political economy of neo-liberalism. It focuses on a number of the most critical issues and examines the essence of n

Malcolm C. Sawyer

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