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Investment and profitability: the evidence from the advanced capitalist countries

Bhaskar, V.; Glyn, A.; (1995) Investment and profitability: the evidence from the advanced capitalist countries. In: Epstein, G. and Gintis, H., (eds.) Macroeconomic Policy after the Conservative Era. (pp. 175-196). Cambridge University Press: Cambridge, UK.

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Abstract

Book description: A conservative approach to economic growth has dominated policy circles for close to two decades. This approach holds that the key to restoring economic growth lies in reducing the size and role of government in the market economy through deregulation of the financial sector, privatization, and lower taxes. The contributors to this book argue that the principles of ‘trickle down’ economics are of dubious validity, and have led to economic stagnation, high unemployment, and increasing inequality. They develop a new perspective on macroeconomic policy, one affirming that egalitarian and democratic economic structures are not only compatible with economic revival, but in fact offer the best hope for sustainable growth of living standards. Their alternative recognizes that markets have an important role to play, but only within the framework of macroeconomic stability, corrections of market failures, and egalitarian rules of the game.

Type:Book chapter
Title:Investment and profitability: the evidence from the advanced capitalist countries
ISBN-13:9780521462907
DOI:10.2277/0521462908
Publisher version:http://www.cup.cam.ac.uk/catalogue/catalogue.asp?isbn=9780521462907
Language:English
Keywords:JEL classification: P17, E22. Investment
UCL classification:UCL > School of Arts and Social Sciences > Faculty of Social and Historical Sciences > Economics

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