New PDF release: Adjusting to Global Economic Change: The Dangerous Road

By Robert A. Levine

ISBN-10: 0833046527

ISBN-13: 9780833046529

The writer combines macroeconomic historical past because the nice melancholy with a quick exposition of financial concept that stems from and explains that historical past, and explores how that have may perhaps practice to the current monetary quandary. He warns that we may perhaps back be headed for stagflation and makes feedback for escaping the worst results of the hindrance.

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Extra info for Adjusting to Global Economic Change: The Dangerous Road Ahead

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Observation of, and data from, the real world are necessary to convert the theory to policy. This paper reads inductively so that it can be followed by noneconomists. It is intended to synthesize classical economics and the deductive theories of Keynes and others, and to apply them to observations of the real economies of the United States and the rest of the world, in order to explain the history of the past 70 years and project future possibilities.

All classicists and most Keynesians (including Keynes) have been deductive economists. Inductive economists, however, contend that the simplifications definitionally inherent in deductive economics, particularly the more intensive use of mathematics, increasingly oversimplify the complexities of the real world. They prefer instead to examine economic history and current events and obtain their insights in that way. I am an economist trained in deduction; I apply my training to policy analysis. My own view is eclectic, valuing both induction and deduction.

Observation of, and data from, the real world are necessary to convert the theory to policy. This paper reads inductively so that it can be followed by noneconomists. It is intended to synthesize classical economics and the deductive theories of Keynes and others, and to apply them to observations of the real economies of the United States and the rest of the world, in order to explain the history of the past 70 years and project future possibilities.

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Adjusting to Global Economic Change: The Dangerous Road Ahead by Robert A. Levine


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