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Palgrave Macmillan

Economics for Sustainable Prosperity

  • Book
  • © 2018

Overview

Authors:
  1. Steven Hail

    1. University of Adelaide, Aldgate, Australia

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  • 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

Part of the book series: Binzagr Institute for Sustainable Prosperity (BISP)

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Table of contents (8 chapters)

  1. Front Matter

    Pages i-xi
    Download chapter PDF

  2. Introduction—Searching for a New Economics

    • Steven Hail
    Pages 1-19

  3. ‘Real’ Analysis of an Unreal World

    • Steven Hail
    Pages 21-62

  4. New Wisdom from Old Books

    • Steven Hail
    Pages 63-99

  5. Behavioural Foundations

    • Steven Hail
    Pages 101-140

  6. Modern Monetary Theory

    • Steven Hail
    Pages 141-182

  7. Stock-Flow Consistent Monetary Economics

    • Steven Hail
    Pages 183-218

  8. A Job Guarantee

    • Steven Hail
    Pages 219-252

  9. Conclusion—Economics for Sustainable Prosperity

    • Steven Hail
    Pages 253-270

  10. Back Matter

    Pages 271-289
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Keywords

About this book

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 economists—as well as research by behavioral economists including Simon, Kahneman and Loewenstein—to 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. 

Authors and Affiliations

  • University of Adelaide, Aldgate, Australia

    Steven Hail

About the author

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. 

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