The past decade has seen many leading economies, especially the US, undergo profound structural transformations. Departing from the standard theories employed to explain this phenomenon, here author Togati provides the first broad analysis of the New Economy. In this book, the first to look at the new economy from a post-Keynesian / post-modern perspective, he focuses on its macroeconomic implications, presenting a more balanced view than that provided by orthodox neoclassical analysis, and studying the interaction of key variables such as:

* information technology
* globalization
* the increasing significance of intangibles and financial markets.

This ground-breaking book utilizes a ‘neo-modern’ perspective drawing on complexity theory to advance the study of the stability and dynamic behaviour of economic systems. Togati utilizes the Calvino labels to identify new empirical evidence, and examines the implications for global stability based on New Classical Macroeconomics and Keynsian theory.

The analysis developed in this book has important practical and policy implications for the New Economy, making this book essential reading for students, academics and practitioners in this field.

chapter |12 pages


part |33 pages

Part I Alternative approaches to stability

part |34 pages

Part II Stability analysis and the neo-modern perspective

chapter |16 pages

5 Complexity theory

chapter |7 pages

6 Our approach to stability

Structural change and instantaneous equilibrium

part |35 pages

Part III The two basic macroeconomic paradigms

part |67 pages

Part IV A preliminary account of stability of the New Economy

chapter |9 pages

11 Multiplicity

chapter |8 pages

12 Rapidity

chapter |10 pages

13 Lightness

chapter |7 pages

14 Precision

chapter |19 pages

15 Visibility

part |73 pages

Part V The New Economy and macroeconomic theories

chapter |9 pages