Failed Globalisation

Globalisation is considered a success story. Following the fall of the Berlin Wall and the dissolution of the political divides between East and West Germany, nothing seemed to stand in the way of peaceful cooperation between people everywhere. Under the precepts of economic liberalism, by removing institutional obstacles to international trade and capital flows, a spontaneous global order would emerge, and the dream of a world populated by free and prosperous global citizens would eventually come true.But in the wake of the worldwide financial crisis that began in 2007–2008, in the world of an ongoing Euro-Crisis, Trump and Brexit, it has become apparent that the great liberal project has failed. Neoclassical liberal economic theory has shown itself to be fundamentally incapable of explaining the dynamics of a market economy and in guiding economic policy in developed as well as in developing countries.Given the continuing dominance of that discredited theory today, the world lacks a viable conceptual framework for global cooperation among nations, and appropriate national economic policies. With this book, the authors show how such a framework can be built on the basis of a modern and empirically sound economic theory.Contents: Globalisation and Digitisation — The Challenges of Our TimeThe Democratic State and the Economy as a WholeNeoliberalism as RegressionMoney as a Domain of the StateModern Economic Policy and the Role of the State
Readership: Students, Professionals, People interested in macroeconomics and the economy.Globalisation;Macroeconomics;International Economy;Inequality and Consumption;International Relations;Monetary Relations;National Economic and Social Policy;International Trade;Protectionism0Key Features:A new approach to economic developmentA new approach to international tradeA new approach to saving, investment and debt