1st Edition

Free Market Conservatism (Routledge Revivals) A Critique of Theory & Practice

Edited By Edward Nell Copyright 2010
276 Pages
by Routledge

276 Pages
by Routledge

274 Pages
by Routledge

First published in 1984, this book carefully dissects and convincingly demonstrates that conservative economics is incoherent in theory and disastrous in practice. The three main schools of thought supporting "free-market" policies – supply side economics, monetarism and rational expectations- are examined in turn and each is found defective. Three case studies of conservative policy in action... Read more

1. Introduction - Capitalism as Gestalt: A contrast of visions Robert Heilbroner  Part 1: Theory  2. Supply-side economics: Incentives and disasters Rosemary Rinder  3. Monetarism: Conservative policy and Monetary theory Edward Nell and Alex Azarchs  I The Conservative Critique of Interventionist Policy  II Wealth effects and the Government Budget constraint  III The Real Balance Effect in Neoclassical Theory: Micro and Macro  IV Milton Friedman’s Monetary Theory  4. Rational Expectations: Radical assumptions and conservative conclusions  I Expectations and Rationality within a Capitalist Framework Jan Kregel  II The Micro Foundations of the Short-Run Phillips Curve Bob Cherry, Pat Clawson and James Dean  III Rational Expectations and Imperfect Knowledge Jagdish Handa  5. Social Policy: Private Reactions to Public Decisions Edward Nell  Part 2: Practice  6. The Politics of Reaganomics Teresa Amott  7. Thatcherism: The miracle that never happened Geoff Hodgson  8. Supply-Side Economics in a small economy: The Chilean Case Antonio Schneider  9. Conclusions-Cowboy Capitalism: The Last Round-Up Edward Nell

Biography

Edward Nell