|
| How the Economy Works : Confidence, Crashes and Self-Fulfilling Prophecies
ISBN: 9780199745364
Platform/Publisher: Ebook Central / Oxford University Press, Incorporated
Digital rights: Users: Unlimited; Printing: Limited; Download: 7 Days at a Time
Subjects: Business/ Management; Economics;
Farmer, professor and chair of the economics department at UCLA, offers a detailed explanation of macroeconomics, showing how unemployment, inflation, and interest rates are connected and how they are influenced by government monetary and fiscal policy. Attempting to speak to the layperson as well as the academic (with mixed results; Farmer's real audience might be the latter), he wades into the difference between classical and Keynesian economics and shows how they have influenced recent policy debates. He shows how central banks influence individual lives, why unemployment persists, and why the stock market matters to everyone. Farmer also ponders if there will be another Great Depression and puts forth a solution for solving and preventing financial crises. Along the way, he provides an abbreviated history of economic thought from Revolutionary days to the present. Readers with a serious interest in this subject will find this timely book informative, but those looking for a gentler introduction will need to look elsewhere. (Apr.) (c) Copyright PWxyz, LLC. All rights reserved
ROGER E. A. FARMER is a 2013 Senior Houblon Norman Fellow at the Bank of England. He is a Distinguished Professor of Economics at UCLA and served as Department Chair from July 2008 through December 2012. The author of six books and numerous academic journal articles, he is a Fellow of the Econometric Society, a Research Associate of the National Bureau of Economic Research and a Research Fellow of the Centre for Economic Policy Research. Professor Farmer has served, and continues to serve, as a consultant to central banks around the world. He is a regular contributor to the Financial Times, Project Syndicate and VoxEU. He is a co-winner of the 2013 Maurice Allais Prize in Economic Science for his work on the inefficiency of financial markets; and in 2000, he received the University of Helsinki medal in recognition of his work on self-fulfilling prophecies. |
