Financial Markets, Money and the Real World
Editorial Reviews
Book Description
Paul Davidson investigates why the 1990s was a decade of financial crises that almost precipitated a global market crash. He explores the reasons why the global economy still struggles with the aftermath of these crises and discusses the possibility that volatile financial markets in the future will have real impacts on whole industries and national economic systems.
The author highlights the central role that domestic and international financial markets play in determining the economic growth rate, unemployment rate and international payments position of capitalist economies. He explains why the primary function of financial markets is to create liquidity and demonstrates that a liquid market cannot be efficient, and an efficient market cannot be liquid. He also proves that preventing liquidity problems from developing in national and international financial markets is the key element in fostering prosperity. Statistical evidence and theoretical analysis are combined to demonstrate why orthodox prescriptions for ‘liberalizing' labor, product, and capital markets are the wrong policies for promoting a civilized society in the 21st century.
Professional economists, financial reporters, government policy makers, those working in international economic organizations such as the IMF, the World Bank and the WTO, and concerned citizens will all benefit greatly from reading this highly acclaimed book.
About the Author
Paul Davidson, Professor Emeritus, University of Tennessee, Knoxville and Editor, Journal of Post Keynesian Economics
Financial Markets, Money and the Real World,Paul Davidson,Edward Elgar Publishing,184064740X,Business & Economics,Business / Economics / Finance,Business/Economics,Capital market,Economic Conditions,Finance,International finance,Liquidity (Economics),Money
English Books:
Recommended Books