The central argument of this book is that the foundations for sustainable prosperity lie in an approach to economic management based on modern monetary theory and a job guarantee. This approach builds on the work of Keynes, Kalecki, Minsky, Davidson, Godley and other Post- Keynesian economistsas well as research by behavioral economists including Simon, Kahneman and Loewensteinto explore the role that a permanent, equitable job guarantee could play in building an inclusive, participatory and just society. Orthodox (neoclassical) economics, in its various forms, has failed to deliver sustainable prosperity. An important reason for this failure is its lack of realistic foundations. It misrepresents both human nature and economic institutions, and its use as a frame for the development and assessment of economic policy proposals has had disastrous consequences for social inclusion and the quality of life of millions of people. This book discusses an alternative, more realistic and moreuseful set of economic foundations, which could deliver the opportunity of a decent quality of life with dignity to all.

Builds the case for a permanent and inclusive job guarantee Argues that equitable full employment and ecological sustainability should replace growing the economy as the goals of policy makers Draws from Post-Keynesian and behavioral economics traditions to show an alternative to orthodox macroeconomics

Autorentext
Steven Hail is a Research Scholar at the Binzagr Institute for Sustainable Prosperity and a Lecturer in the School of Economics at the University of Adelaide in South Australia. During the 1990s, he trained staff from many international banks and the Bank of England. He now teaches modern monetary theory and regularly writes magazine articles and appears in podcasts relating to MMT.

Klappentext

Steven Hail has coalesced disparate yet interdependent conceptualizations of real world phenomena in a brilliant and crucial way to produce a blueprint for sustainable prosperity. The book is essential reading for anyone searching for an alternative to the mainstream orthodoxy that has played no small part in the creation of an ecologically unsustainable and inequitable world.Philip Lawn, University of Newcastle, Australia; author of Resolving the Climate Change Crisis- The Ecological Economics of Climate Change
This book should be a compulsory text for all undergraduate students, high-school students, students of life, policy makers, and of course economists themselves. In an era of tumult and political crisis, this book will tighten your grip on reality.Claire Connelly, award-winning journalist, Renegade Inc.
"Dr. Hail makes a compelling case for sustainability through a modern money lens that is accessible and useful for the 99%."Steven Grumbine, founder, Real Progressives
The central argument of this book is that the foundations for sustainable prosperity lie in an approach to economic management based on modern monetary theory and a job guarantee. This approach builds on the work of Keynes, Kalecki, Minsky, Davidson, Godley and other Post- Keynesian economistsas well as research by behavioral economists including Simon, Kahneman and Loewensteinto explore the role that a permanent, equitable job guarantee could play in building an inclusive, participatory and just society. Orthodox (neoclassical) economics, in its various forms, has failed to deliver sustainable prosperity. An important reason for this failure is its lack of realistic foundations. It misrepresents both human nature and economic institutions, and its use as a frame for the development and assessment of economic policy proposals has had disastrous consequences for social inclusion and the quality of life of millions of people. This book discusses an alternative, more realistic and more useful set of economic foundations, which could deliver the opportunity of a decent quality of life with dignity to all.

Inhalt

1. Introduction: Searching for a New Economics.- 2. 'Real' Analysis of an Unreal World.- 3. New Wisdom from Old Books.- 4. Behavioral Foundations.- 5. Modern Monetary Theory.- 6. Stock-Flow Consistent Monetary Economics.- 7. A Job Guarantee.- 8. Conclusion: Economics for Sustainable Prosperity.