Catalogue


The misfortunes of prosperity [electronic resource] : an introduction to modern political economy /
Daniel Cohen ; translated by Jacqueline Lindenfeld.
imprint
Cambridge, Mass. : The MIT Press, c1995.
description
xiii, 170 p.
ISBN
0262032309 (alk. paper)
format(s)
Book
More Details
added author
imprint
Cambridge, Mass. : The MIT Press, c1995.
isbn
0262032309 (alk. paper)
restrictions
Licensed for access by U. of T. users.
catalogue key
11736483
 
Includes bibliographical references (p. [163]-168) and index.
A Look Inside
Full Text Reviews
Appeared in Choice on 1996-02:
Cohen (Centre d'Etudes Prospectives d'Economie, Paris) has written a delightful, discursive book. The translation by Jacqueline Lindenfeld maintains Cohen's easy, conversational style. As befits the subtitle, Cohen is concerned with the relationship between the economy and the state. He draws upon the writings of contemporary theorists (e.g., Lucas, Kaldor, Solow, Arrow, and Maddison) and their predecessors (e.g., Quesnay, Ricardo, Malthus, Keynes, and Marx) in his interpretation of and explanation for the slowdown in economic growth in Europe after 1973 (the end of "thirty glorious years" following WW II). Consideration of economic growth rates raises questions of economic and social history for Cohen. In his broad discussion, issues of technological progress, health care, rentiers, Ronald Reagan, Kondratieff cycles, and newly industrializing countries are interwoven in a pleasantly coherent manner. Although general readers may profit from reading it, Cohen's erudition will be enjoyed more by mature economists who will appreciate the scope of his scholarship. Upper-division through faculty. R. L. Lucier; Denison University
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This item was reviewed in:
Choice, February 1996
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Summaries
Main Description
translated by Jacqueline Lindenfeld Are robust economic growth and tight social cohesion something of the past, or is contemporary stagnation simply part of a long economic cycle that is bound to bring brighter days? Should government step in to boost productivity and income, or does economic globalization necessitate a new laissez-faire model for the twenty-first century?The Misfortunes of Prosperity elucidates the current debates on these and other questions in a fast-paced and incisive tour of the dominant ideas in political economy, summarizing historical and theoretical perspectives on the causes of economic growth in the United States, Western Europe, Japan and elsewhere as the twentieth-century draws to a close.Daniel Cohen discusses the effects of the showdown of productivity in Europe and the United States and explains the origin of the apparent tradeoff between unemployment in Europe and wage inequalities in the United States. On questions of economic policy and the competing academic views (new classical and Keynesian) of the efficacy of government intervention, Cohen inverts the Keynesian belief that government intervention causes growth, and explains why waves of government interventions (including wars) usually follow upward economic trends (rather than create it). But he also advocates government discretion rather than government neutrality by showing the disastrous consequences of hands off approach to debt, inflation, and social security.
Main Description
Are robust economic growth and tight social cohesion something of the past, or is contemporary stagnation simply part of a long economic cycle that is bound to bring brighter days? Should government step in to boost productivity and income, or does economic globalization necessitate a new laissez-faire model for the twenty-first century? The Misfortunes of Prosperity elucidates the current debates on these and other questions in a fast-paced and incisive tour of the dominant ideas in political economy, summarizing historical and theoretical perspectives on the causes of economic growth in the United States, Western Europe, Japan and elsewhere as the twentieth-century draws to a close. Daniel Cohen discusses the effects of the showdown of productivity in Europe and the United States and explains the origin of the apparent tradeoff between unemployment in Europe and wage inequalities in the United States. On questions of economic policy and the competing academic views (new classical and Keynesian) of the efficacy of government intervention, Cohen inverts the Keynesian belief that government intervention causes growth, and explains why waves of government interventions (including wars) usually follow upward economic trends (rather than create it). But he also advocates government discretion rather than government neutrality by showing the disastrous consequences of hands off approach to debt, inflation, and social security.
Main Description
Are robust economic growth and tight social cohesion something of the past, or is contemporary stagnation simply part of a long economic cycle that is bound to bring brighter days? Should government step in to boost productivity and income, or does economic globalization necessitate a new laissez-faire model for the twenty-first century? The Misfortunes of Prosperityelucidates the current debates on these and other questions in a fast-paced and incisive tour of the dominant ideas in political economy, summarizing historical and theoretical perspectives on the causes of economic growth in the United States, Western Europe, Japan and elsewhere as the twentieth-century draws to a close. Daniel Cohen discusses the effects of the showdown of productivity in Europe and the United States and explains the origin of the apparent tradeoff between unemployment in Europe and wage inequalities in the United States. On questions of economic policy and the competing academic views (new classical and Keynesian) of the efficacy of government intervention, Cohen inverts the Keynesian belief that government intervention causes growth, and explains why waves of government interventions (including wars) usually follow upward economic trends (rather than create it). But he also advocates government discretion rather than government neutrality by showing the disastrous consequences of hands off approach to debt, inflation, and social security.
Table of Contents
Introduction
Acknowledgements
Slowdown in Growthp. 3
Jobs and Unemploymentp. 31
Keynes and His Shadowp. 59
The New Monetarist Orthodoxyp. 85
Economic and Political Cyclesp. 111
The Two Crises of Keynesianismp. 129
Appendix A: The History of Wealthp. 135
Appendix B: The History of the Modern Statep. 149
Appendix C: Underconsumption Theoriesp. 159
Notesp. 163
Indexp. 169
Table of Contents provided by Blackwell. All Rights Reserved.

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