The book aims to give non-economists a detailed understanding of how macroeconomic policy works in modern economies, and the issues it faces. The world has recently been through a huge economic crisis and thinking people everywhere have reason to wonder whether something is not seriously wrong with the policy regimes underlying these dramatic events in the major economies, and whether changes should be made. The author reviews the history of the successive regimes tried and found wanting in the second half of the last century and proposes a set of reforms designed to convert the flawed neo-liberal consensus of the 1990s into a durable regime for the present century.



chapter |10 pages


To Utopia and back

part |117 pages

The new macroeconomic consensus and its problems

chapter |15 pages

The Demise of Economic Management

chapter |22 pages

The Monetarist Experiment and its Legacy

chapter |31 pages

The 1990s Synthesis

chapter |34 pages

Problems Under the 1990s Synthesis

chapter |13 pages

The Global Financial Crisis

part |106 pages

The elements of a more durable regime

chapter |17 pages

Monetary Policy

chapter |45 pages

Fiscal Policy

chapter |18 pages

Exchange Rate Policy

chapter |24 pages

Review and Assessment