Restoring demand in the world economy

About this book

During the past two decades, the macroeconomic policy debate has been dominated, both in developed and developing countries, by supply-side considerations. Distinguished contributors to this new book conclusively argue that this has led towards depression at a world level, and particularly in transitional and developing economies. Restoring Demand in the World Economy examines the necessity to rehabilitate the role of effective demand, in both the analysis of past economic events and in shaping current economic policy. At the theoretical level, the contributors argue conclusively that the level of effective demand and the aggregate distribution of income play a dominant role in the macroeconomic framework of all economic systems. This economic theory is then applied to specific situations. This book will be of use to economic theorists, policy makers and academics with an interest in international economics.