A conservative approach to economic growth has dominated policy circles for close to two decades. This approach holds that the key to restoring economic growth lies in reducing the size and role of government in the market economy through deregulation of the financial sector, privatization, and lower taxes. The contributors to this 1995 book argue that the principles of 'trickle down' economics are of dubious validity, and have led to economic stagnation, high unemployment, and increasing inequality. They develop a fresh perspective on macroeconomic policy, one affirming that egalitarian and democratic economic structures are not only compatible with economic revival, but in fact offers sustainable growth of living standards. Their alternative recognizes that markets have an important role to play, but only within the framework of macroeconomic stability, corrections of market failures, and egalitarian rules of the game.

This book arguing that policies which foster economic equality can also promote economic efficiency.
Reviews
"This book deserves careful study both by those who believe in the conservative macro policy consensus and by those who question it, both of whom will be stimulated by this volume to do more research either to test or extend the results published here." Robert A. Blecker, Journal of Economiv Litertaure



Book Information
ISBN 9780521462907
Author Gerald A. Epstein
Format Hardback
Page Count 484
Imprint Cambridge University Press
Publisher Cambridge University Press
Weight(grams) 830g
Dimensions(mm) 229mm * 152mm * 32mm