General Introduction

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A chapter in Capitalism, Inclusive Growth, and Social Protection, 2023, pp 1-18 from Edward Elgar Publishing

Abstract: This chapter serves as a general introduction to the contents of the book, drawing attention to the major crises that have afflicted capitalism during recent decades and the need for reform if capitalist economies are to properly serve the public purpose. It outlines why, in order to develop an alternative theory of economic decision making, it is useful to bring together elements of Marx, Keynes, and Schumpeter. The resulting ‘MKS system’, with its elements of distributional conflict, effective demand, and innovation, provides our analytical foundation. A chapter-by-chapter account of the structure of the book is provided that highlights the substance of each of its three main sections, focusing on theory, the pathologies of contemporary capitalism, and policy intervention, respectively.

Keywords: Economics and Finance (search for similar items in EconPapers)
Date: 2023
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