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Today's economic reality is that of a single global economy that has long ceased to comprise separate national areas. A global approach to economic life is therefore needed and with it a dynamic analysis of the economic process – something that can only happen once we find a path that takes us beyond the confines of nationalistic thinking.
Not generally known for his contribution to economics, Steiner shows a remarkable knowledge of economic history and a firm grasp of day-to-day problems – from the price of gold to the structure of state capitalism. Though they took place in 1922, the lectures presented here have lost nothing of their relevance; the problems facing humanity at the end of the First World War have never been properly addressed and continue to haunt us. For those who want to get beyond our reliance on a combination of state and market regulation so that we take charge of economic affairs more directly, this book is a mine of valuable insights prefaced by an essay putting Steiner's contribution to economics into context. It has a special importance when it comes to rethinking economics in the aftermath of the global financial crisis.