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He then takes up basic structuralist models of a closed economy and moves on to consider the open economy cases. He incorporates the latest developments in the field (inflation, financial crisis, exchange rate management, increasing returns, and the like) in a treatment that departs substantially from economic orthodoxy. Taylor first addresses the question of how to specify closure or define the causal structure of macro models. He also considers how income redistribution influences growth and output and how income redistribution interacts with inflation. Next, an investment-driven non-full employment growth model draws on ideas introduced earlier to illustrate how different sorts of macroeconomic policies affect short-run adjustment and growth prospects over time. Taylor then turns to the problems proposed by economic openness in a stylized semi-industrialized country, starting with international trade. A fix-price\/flex-price model is developed, and additional models demonstrate cases of policy relevance as well as interactions between class conflict and growth.\u003c\/p\u003e","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49594128564497,"sku":"GOR009875463","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/026270045X.jpg?v=1751005538"},{"product_id":"reconstructing-macroeconomics-book-lance-taylor-9780674010734","title":"Reconstructing Macroeconomics","description":"Macroeconomics is in disarray. No one approach is dominant, and an increasing divide between theory and empirics is evident.   This book presents both a critique of mainstream macroeconomics from a structuralist perspective and an exposition of modern structuralist approaches. The fundamental assumption of structuralism is that it is impossible to understand a macroeconomy without understanding its major institutions and distributive relationships across productive sectors and social groups.   Lance Taylor focuses his critique on mainstream monetarist, new classical, new Keynesian, and growth models. He examines them from a historical perspective, tracing monetarism from its eighteenth-century roots and comparing current monetarist and new classical models with those of the post-Wicksellian, pre-Keynesian generation of macroeconomists. He contrasts the new Keynesian vision with Keynes's General Theory, and analyzes contemporary growth theories against long traditions of thought about economic development and structural change.","brand":"WoB","offers":[{"title":"US \/ GOOD \/ SBYB","offer_id":50360900124945,"sku":"CIN0674010736G","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0674010736.jpg?v=1751167728"},{"product_id":"macroeconomic-inequality-from-reagan-to-trump-book-lance-taylor-9781108796101","title":"Macroeconomic Inequality from Reagan to Trump","description":"For five decades, rising US income and wealth inequality has been driven by wage repression and production realignments benefitting the top one percent of households. In this inaugural book for Cambridge Studies in New Economic Thinking, Professor Lance Taylor takes an innovative approach to measuring inequality, providing the first and only full integration of distributional and macro level data for the US. While work by Thomas Piketty and colleagues pursues integration from the income side, Professor Taylor uses data of distributions by size of income and wealth combined with the cost and demand sides, flows of funds, and full balance sheet accounting of real capital and financial claims. This blends measures of inequality with national income and product accounts to show the relationship between productivity and wages at the industry sector level. Taylor assesses the scope and nature of various interventions to reduce income and wealth inequalities using his simulation model, disentangling wage growth and productivity while challenging mainstream models.","brand":"WoB","offers":[{"title":"US \/ NEW \/ INGRAM","offer_id":51019940135185,"sku":"NIN9781108796101","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52674094661905,"sku":"NLS9781108796101","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1108796109.jpg?v=1750823040"},{"product_id":"social-fairness-and-economics-book-lance-taylor-9781138902251","title":"Social Fairness and Economics","description":"This volume brings together papers inspired by the work of Duncan Foley, an extraordinarily productive economist who has made seminal contributions to a wide variety of areas. Foley’s work cannot be easily classified, but one thread that runs through it is a critical examination (along both ethical and analytical lines) of conventional neoclassical economic theory, particularly involving general equilibrium theories of value and money. Foley was a pioneer of complexity economics as well, which adopts approaches to these questions drawn from natural sciences, so the collection therefore has an interdisciplinary quality that will interest a wide variety of readers.  Some of the chapters are intellectual biographies that contextualize and identify Foley’s contributions to Keynesian macroeconomics, Marxian value theory, and complexity theory in economics. The topics covered include the economics of complexity; the ethics of general equilibrium theory; the economics of climate change; applications of Keynesian, Marxian and Ricardian political economy; and money and financial crises.  The collection should be useful to scholars who work in various economic traditions critical of the currently dominant free-market approach, but it also speaks to scholars of critical theory in various disciplines beyond economics such as the mathematicians, physicists, and other natural scientists who are interested in understanding the complexity of social processes using their analytical frameworks. This book should also appeal to graduate students in economics who are working in these traditions, as well as scholars (including current graduate students in orthodox programs) who are dissatisfied with the current state of economic theory and would like to satisfy their intellectual curiosity by sampling the contributions of critical theorists.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51020635144465,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51020635865361,"sku":"NIN9781138902251","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"GB \/ NEW \/ INGRAM","offer_id":52616103100689,"sku":"NLS9781138902251","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/113890225X.jpg?v=1751080380"},{"product_id":"external-liberalization-in-asia-post-socialist-europe-and-brazil-book-lance-taylor-9780195189322","title":"External Liberalization in Asia, Post-Socialist Europe, and Brazil","description":"This book reviews the experience of 14 countries with external liberalization and related policies, based on papers written by national authors following a common macroeconomic methodology. The country papers show clearly how trade and capital account liberalization along with changes in the real exchange rate affected demand, productivity, and employment at the country level. They also trace through shifts in the overall income distribution and the incidence of poverty. The authors of the papers bring a wealth of insight into their 'thick descriptions' a la Clifford Geertz's famous Balinese cockfight about how diverse economies responded to rather similar 'reform' packages and offer lessons about ongoing institutional change. They also suggest policy shifts that may help make economic performance better in the future than it has been in the past.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51304600666385,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51304601125137,"sku":"NIN9780195189322","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52126094164241,"sku":"NLS9780195189322","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0195189329.jpg?v=1750973205"},{"product_id":"modelling-the-impact-of-trade-liberalisation-book-lance-taylor-9780855985851","title":"Modelling the Impact of Trade Liberalisation","description":"This hard-hitting research report presents a rigorous critique of the most widely used trade models based on computable general equilibrium (or CGE) models. The report appeals for honest simulation strategies showing a variety of possible outcomes, which would enable policy-makers to assess the different scenarios for themselves.","brand":"WoB","offers":[{"title":"GB \/ NEW \/ INGRAM","offer_id":52122636386577,"sku":"NLS9780855985851","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/9780855985851.jpg?v=1757441540"},{"product_id":"social-fairness-and-economics-book-lance-taylor-9780415538190","title":"Social Fairness and Economics","description":"This landmark volume spans a wide range of economic approaches to social justice. 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