Modern Political Economics: Making Sense of the Post-2008 World

Book Details
• Author: Halevi, Joseph
• Brand: Taylor & Francis Ltd
• Edition: 1
• Binding: Paperback
• Number Of Pages: 552
• Release Date: 01-06-2011
• EAN: 9780415428880
• Package Dimensions: 9.6 x 6.9 x 1.3 inches
• Languages: English

Details:
Once in a while, the world astonishes itself. Anxious incredulity replaces intellectual torpor and a puzzled public strains its antennae in every possible direction, desperately seeking explanations for the causes and nature of what just hit it. 2008 was such a moment. Not only did the financial system collapse and send the real economy into a tailspin, but it also revealed the great gulf separating economics from a very real capitalism. Modern Political Economics has a single aim: to help readers make sense of how 2008 came about and what the post-2008 world has in store.

The book is divided into two parts: The first delves into every major economic theory, from Aristotle to the present, seeking clues about what went wrong in 2008. The main finding is that all economic theory is inherently flawed. Any system of ideas describing capitalism in mathematical or engineering terms leads to inevitable logical inconsistency. The second part focuses on the post-war era, distinguishing between two major post-war phases: The Global Plan (1947-1971) and the Global Minotaur (1971-2008)