How the Economy Works: Confidence, Crashes and Self-Fulfilling Prophecies

 
9780195397918: How the Economy Works: Confidence, Crashes and Self-Fulfilling Prophecies

"Of all the economic bubbles that have been pricked," the editors of The Economist recently observed, "few have burst more spectacularly than the reputation of economics itself." Indeed, the financial crisis that crested in 2008 destroyed the credibility of the economic thinking that had guided policymakers for a generation. But what will take its place?

In How the Economy Works, one of our leading economists provides a jargon-free exploration of the current crisis, offering a powerful argument for how economics must change to get us out of it. Roger E. A. Farmer traces the swings between classical and Keynesian economics since the early twentieth century, gracefully explaining the elements of both theories. During the Great Depression, Keynes challenged the longstanding idea that an economy was a self-correcting mechanism; but his school gave way to a resurgence of classical economics in the 1970s-a rise that ended with the current crisis. Rather than simply allowing the pendulum to swing back, Farmer writes, we must synthesize the two. From classical economics, he takes the idea that a sound theory must explain how individuals behave-how our collective choices shape the economy. From Keynesian economics, he adopts the principle that markets do not always work well, that capitalism needs some guidance. The goal, he writes, is to correct the excesses of a free-market economy without stifling entrepreneurship and instituting central planning.

Recent events have shown that we cannot afford to treat economics as an ivory-tower abstraction. It has a direct impact on our lives by guiding regulators and policymakers as they make decisions with far-reaching practical consequences. Written in clear, accessible language, How the Economy Works makes an argument that no one should ignore.

"Sinopsis" puede pertenecer a otra edición de este libro.

About the Author:


ROGER E. A. FARMER is a 2013 Senior Houblon Norman Fellow at the Bank of England. He is a Distinguished Professor of Economics at UCLA and served as Department Chair from July 2008 through December 2012. The author of six books and numerous academic journal articles, he is a Fellow of the Econometric Society, a Research Associate of the National Bureau of Economic Research and a Research Fellow of the Centre for Economic Policy Research. Professor Farmer has served, and continues to serve, as a consultant to central banks around the world. He is a regular contributor to the Financial Times, Project Syndicate and VoxEU. He is a co-winner of the 2013 Maurice Allais Prize in Economic Science for his work on the inefficiency of financial markets; and in 2000, he received the University of Helsinki medal in recognition of his work on self-fulfilling prophecies.

Review:


"Roger Farmer offers a new diagnosis for what ails the economy. His clear and forceful writing encourages policymakers and the public to think out of the box and reach for new solutions."--Greg Mankiw, Professor and Chairman of the Economics Department at Harvard University


"In the morass of me-too books about the financial crisis, How the Economy Works stands out as a truly big idea." --BusinessWeek


"Bringing new research to life in guiding policy in the aftermath of the financial crisis, Roger Farmer takes the economic ball up the middle between Hayek and Keynes. With an emphasis on swings in confidence and wealth, Farmer's criticisms of fiscal stimulus and interesting prescriptions for monetary policy should be essential reading for anyone trying to understand what happened, especially for economists and policymakers focused on recovery. Nonspecialists will find the book full of fascinating stories; economists will see some surprising new twists."--Glenn Hubbard, Dean of the Columbia Business School, Columbia University, former Chairman of the Council of Economic Advisers


"This is an important policy proposal from a top thinker. Farmer balances the traditions of Hayek and Keynes to formulate a new way to stabilize the economy-and to solidify society's confidence about its future prospects. He returns us to first principles and builds a clear, succinct argument in language that is easy to follow. No policymakers are rushing to adopt Farmer's approach; but the same was true for Keynes in the 1930s. Let's hope we don't need to experience another Great Depression before our economic leaders are seriously willing to rethink everything."--Simon Johnson, Ronald A. Kurtz (1954) Professor of Entrepreneurship at the MIT Sloan School of Management, former chief economist at the International Monetary Fund


"Farmer provides an excellent discussion of what went wrong with modern economics in the run up to the recent crisis. And to deal with the effects of the financial crisis, boosting investment and employment in the short and the long run, he provides a policy plan to induce a rapid and sustainable recovery through direct intervention in the stock market. If he is right it would improve things quickly, and if he is wrong the tax payer ends up receiving dividends through the Central Bank investment portfolio. It is worth a try."--Ray Barrell, Director of Macroeconomic Research and Forecasting, National Institute of Economic and Social Research, UK


"Readers with a serious interest in this subject will find this timely book informative..."--Publishers Weekly


"Readers who lack the time or interest to sift through in-depth explanations of economic theories will gain from Farmer's brief explanations of standard economic theories and biographical sketches of major thinkers."--Library Journal


"Sobre este título" puede pertenecer a otra edición de este libro.

Los mejores resultados en AbeBooks

1.

Farmer, Roger E. A.
Editorial: Oxford University Press (2010)
ISBN 10: 0195397916 ISBN 13: 9780195397918
Nuevos Tapa dura Cantidad: 1
Librería
OceanwaveBooks
(Manhattan Beach, CA, Estados Unidos de America)
Valoración
[?]

Descripción Oxford University Press, 2010. Hardcover. Estado de conservación: New. New Condition. Clean crisp tight copy, no marks or tears. Email Notification. Satisfaction Guaranteed. Nº de ref. de la librería mcl17081810801

Más información sobre esta librería | Hacer una pregunta a la librería

Comprar nuevo
EUR 6,13
Convertir moneda

Añadir al carrito

Gastos de envío: EUR 3,40
A Estados Unidos de America
Destinos, gastos y plazos de envío

2.

Roger E. A. Farmer
Editorial: Oxford University Press Inc, United States (2010)
ISBN 10: 0195397916 ISBN 13: 9780195397918
Nuevos Tapa dura Cantidad: 10
Librería
The Book Depository US
(London, Reino Unido)
Valoración
[?]

Descripción Oxford University Press Inc, United States, 2010. Hardback. Estado de conservación: New. Language: English . Brand New Book. Of all the economic bubbles that have been pricked,the editors of The Economist recently observed, few have burst more spectacularly than the reputation of economics itself.Indeed, the financial crisis that crested in 2008 destroyed the credibility of the economic thinking that had guided policymakers for a generation. But what will take its place? In How the Economy Works, one of our leading economists provides a jargon-free exploration of the current crisis, offering a powerful argument for how economics must change to get us out of it. Roger E. A. Farmer traces the swings between classical and Keynesian economics since the early twentieth century, gracefully explaining the elements of both theories. During the Great Depression, Keynes challenged the longstanding idea that an economy was a self-correcting mechanism; but his school gave way to a resurgence of classical economics in the 1970s-a rise that ended with the current crisis. Rather than simply allowing the pendulum to swing back, Farmer writes, we must synthesize the two. From classical economics, he takes the idea that a sound theory must explain how individuals behave-how our collective choices shape the economy. From Keynesian economics, he adopts the principle that markets do not always work well, that capitalism needs some guidance. The goal, he writes, is to correct the excesses of a free-market economy without stifling entrepreneurship and instituting central planning. Recent events have shown that we cannot afford to treat economics as an ivory-tower abstraction. It has a direct impact on our lives by guiding regulators and policymakers as they make decisions with far-reaching practical consequences. Written in clear, accessible language, How the Economy Works makes an argument that no one should ignore. Nº de ref. de la librería AOP9780195397918

Más información sobre esta librería | Hacer una pregunta a la librería

Comprar nuevo
EUR 13,57
Convertir moneda

Añadir al carrito

Gastos de envío: GRATIS
De Reino Unido a Estados Unidos de America
Destinos, gastos y plazos de envío

3.

Roger E. A. Farmer
Editorial: Oxford University Press Inc, United States (2010)
ISBN 10: 0195397916 ISBN 13: 9780195397918
Nuevos Tapa dura Cantidad: 10
Librería
The Book Depository
(London, Reino Unido)
Valoración
[?]

Descripción Oxford University Press Inc, United States, 2010. Hardback. Estado de conservación: New. Language: English . Brand New Book. Of all the economic bubbles that have been pricked,the editors of The Economist recently observed, few have burst more spectacularly than the reputation of economics itself.Indeed, the financial crisis that crested in 2008 destroyed the credibility of the economic thinking that had guided policymakers for a generation. But what will take its place? In How the Economy Works, one of our leading economists provides a jargon-free exploration of the current crisis, offering a powerful argument for how economics must change to get us out of it. Roger E. A. Farmer traces the swings between classical and Keynesian economics since the early twentieth century, gracefully explaining the elements of both theories. During the Great Depression, Keynes challenged the longstanding idea that an economy was a self-correcting mechanism; but his school gave way to a resurgence of classical economics in the 1970s-a rise that ended with the current crisis. Rather than simply allowing the pendulum to swing back, Farmer writes, we must synthesize the two. From classical economics, he takes the idea that a sound theory must explain how individuals behave-how our collective choices shape the economy. From Keynesian economics, he adopts the principle that markets do not always work well, that capitalism needs some guidance. The goal, he writes, is to correct the excesses of a free-market economy without stifling entrepreneurship and instituting central planning. Recent events have shown that we cannot afford to treat economics as an ivory-tower abstraction. It has a direct impact on our lives by guiding regulators and policymakers as they make decisions with far-reaching practical consequences. Written in clear, accessible language, How the Economy Works makes an argument that no one should ignore. Nº de ref. de la librería AOP9780195397918

Más información sobre esta librería | Hacer una pregunta a la librería

Comprar nuevo
EUR 13,61
Convertir moneda

Añadir al carrito

Gastos de envío: GRATIS
De Reino Unido a Estados Unidos de America
Destinos, gastos y plazos de envío

4.

Roger E. A. Farmer
Editorial: Oxford University Press
ISBN 10: 0195397916 ISBN 13: 9780195397918
Nuevos Cantidad: 17
Librería
INDOO
(Avenel, NJ, Estados Unidos de America)
Valoración
[?]

Descripción Oxford University Press. Estado de conservación: New. Brand New. Nº de ref. de la librería 0195397916

Más información sobre esta librería | Hacer una pregunta a la librería

Comprar nuevo
EUR 12,98
Convertir moneda

Añadir al carrito

Gastos de envío: EUR 2,98
A Estados Unidos de America
Destinos, gastos y plazos de envío

5.

Farmer, Roger E. A.
ISBN 10: 0195397916 ISBN 13: 9780195397918
Nuevos Cantidad: 17
Librería
Paperbackshop-US
(Wood Dale, IL, Estados Unidos de America)
Valoración
[?]

Descripción 2010. HRD. Estado de conservación: New. New Book. Shipped from US within 10 to 14 business days. Established seller since 2000. Nº de ref. de la librería VU-9780195397918

Más información sobre esta librería | Hacer una pregunta a la librería

Comprar nuevo
EUR 12,59
Convertir moneda

Añadir al carrito

Gastos de envío: EUR 3,40
A Estados Unidos de America
Destinos, gastos y plazos de envío

6.

Roger E. A. Farmer
Editorial: Oxford University Press (2010)
ISBN 10: 0195397916 ISBN 13: 9780195397918
Nuevos Tapa dura Primera edición Cantidad: 1
Librería
Irish Booksellers
(Rumford, ME, Estados Unidos de America)
Valoración
[?]

Descripción Oxford University Press, 2010. Hardcover. Estado de conservación: New. book. Nº de ref. de la librería M0195397916

Más información sobre esta librería | Hacer una pregunta a la librería

Comprar nuevo
EUR 17,56
Convertir moneda

Añadir al carrito

Gastos de envío: GRATIS
A Estados Unidos de America
Destinos, gastos y plazos de envío

7.

Roger Farmer
Editorial: OUP USA 2010-05-13 (2010)
ISBN 10: 0195397916 ISBN 13: 9780195397918
Nuevos Cantidad: 5
Librería
Chiron Media
(Wallingford, Reino Unido)
Valoración
[?]

Descripción OUP USA 2010-05-13, 2010. Estado de conservación: New. Brand new book, sourced directly from publisher. Dispatch time is 24-48 hours from our warehouse. Book will be sent in robust, secure packaging to ensure it reaches you securely. Nº de ref. de la librería NU-OUP-00082378

Más información sobre esta librería | Hacer una pregunta a la librería

Comprar nuevo
EUR 14,59
Convertir moneda

Añadir al carrito

Gastos de envío: EUR 3,37
De Reino Unido a Estados Unidos de America
Destinos, gastos y plazos de envío

8.

Roger E. A. Farmer
Editorial: Oxford University Press Inc, United States (2010)
ISBN 10: 0195397916 ISBN 13: 9780195397918
Nuevos Tapa dura Cantidad: 10
Librería
Book Depository hard to find
(London, Reino Unido)
Valoración
[?]

Descripción Oxford University Press Inc, United States, 2010. Hardback. Estado de conservación: New. Language: English . This book usually ship within 10-15 business days and we will endeavor to dispatch orders quicker than this where possible. Brand New Book. Of all the economic bubbles that have been pricked,the editors of The Economist recently observed, few have burst more spectacularly than the reputation of economics itself.Indeed, the financial crisis that crested in 2008 destroyed the credibility of the economic thinking that had guided policymakers for a generation. But what will take its place? In How the Economy Works, one of our leading economists provides a jargon-free exploration of the current crisis, offering a powerful argument for how economics must change to get us out of it. Roger E. A. Farmer traces the swings between classical and Keynesian economics since the early twentieth century, gracefully explaining the elements of both theories. During the Great Depression, Keynes challenged the longstanding idea that an economy was a self-correcting mechanism; but his school gave way to a resurgence of classical economics in the 1970s-a rise that ended with the current crisis. Rather than simply allowing the pendulum to swing back, Farmer writes, we must synthesize the two. From classical economics, he takes the idea that a sound theory must explain how individuals behave-how our collective choices shape the economy. From Keynesian economics, he adopts the principle that markets do not always work well, that capitalism needs some guidance. The goal, he writes, is to correct the excesses of a free-market economy without stifling entrepreneurship and instituting central planning. Recent events have shown that we cannot afford to treat economics as an ivory-tower abstraction. It has a direct impact on our lives by guiding regulators and policymakers as they make decisions with far-reaching practical consequences. Written in clear, accessible language, How the Economy Works makes an argument that no one should ignore. Nº de ref. de la librería BTE9780195397918

Más información sobre esta librería | Hacer una pregunta a la librería

Comprar nuevo
EUR 18,71
Convertir moneda

Añadir al carrito

Gastos de envío: GRATIS
De Reino Unido a Estados Unidos de America
Destinos, gastos y plazos de envío

9.

Roger Farmer
Editorial: OUP USA 2010-05-13, New York |Oxford (2010)
ISBN 10: 0195397916 ISBN 13: 9780195397918
Nuevos Tapa dura Cantidad: 5
Librería
Blackwell's
(Oxford, OX, Reino Unido)
Valoración
[?]

Descripción OUP USA 2010-05-13, New York |Oxford, 2010. hardback. Estado de conservación: New. Nº de ref. de la librería 9780195397918

Más información sobre esta librería | Hacer una pregunta a la librería

Comprar nuevo
EUR 13,62
Convertir moneda

Añadir al carrito

Gastos de envío: EUR 6,77
De Reino Unido a Estados Unidos de America
Destinos, gastos y plazos de envío

10.

Farmer, Roger
Editorial: Oxford Univ Pr (2010)
ISBN 10: 0195397916 ISBN 13: 9780195397918
Nuevos Tapa dura Cantidad: 1
Librería
Revaluation Books
(Exeter, Reino Unido)
Valoración
[?]

Descripción Oxford Univ Pr, 2010. Hardcover. Estado de conservación: Brand New. 208 pages. 8.30x5.80x0.80 inches. In Stock. Nº de ref. de la librería __0195397916

Más información sobre esta librería | Hacer una pregunta a la librería

Comprar nuevo
EUR 19,58
Convertir moneda

Añadir al carrito

Gastos de envío: EUR 6,77
De Reino Unido a Estados Unidos de America
Destinos, gastos y plazos de envío

Existen otras copia(s) de este libro

Ver todos los resultados de su búsqueda