Political Economy and Contemporary Capitalism

This volume covers the theoretical method, macroeconomics, microeconomics, international trade and finance, development, and policy of economic theory. It incorporates various alternative approaches as well as a broad spectrum of policy issues. List of Figures, Tables, and Boxes, Preface, Acknowledgments, Contents, 1. Introduction: Political Economy Today, Political Economy Tomorrow, SECTION I. CONCEPTUAL APPROACHES TO POLITICAL ECONOMY, 2. A Primer in Political Economy, 3. The Methodology of Radical Political Economics, 4. Feminist Political Economy: A Primer, 5. Class and Evolution: An Institutionalist View, 6. Class and Evolution: A Marxian View, 7. Beyond Racist Capitalist Patriarchal Economics: Growing a Liberated Economy, SECTION II. CAPITALISM'S DYNAMIC PATH: ACCUMULATION AND THE RATE OF PROFIT, 8. The Rate of Profit and Stagnationin the U.S. Economy, 9. The Global Relevance of Marxian Crisis Theory, 10. Long Waves of Capitalist Development and the Future of Capitalism, 11. On Transformational Growth: Interview with Edward J. Nell, SECTION III. HOW WE LIVE: EMPLOYMENT, LABOR, AND INCOME DISTRIBUTION, 12. The Reserve Army of Labor and the Natural Rate of Unemployment: Can Marx, Kalecki, Friedman, and Wall Street All Be Wrong?, 13. The Political Economy of Employment Inequality: Job Access and Pay Differentials, 14. Falling Wages, Widening Gaps: U.S. Income Distribution at the Millennium, 15. Single, with Children: The Economic Plight of Single Mothers, 16. U.S. Labor Faces an Identity Crisis, SECTION IV. EXAMINING MONEY: FINANCE AND INFLATION, 17. The Role of Credit and Commercial Banks in the Creation of Money: A Post-Keynesian Interpretation in the Circuitist Tradition, 18. Hidden Inflation: An Estimate of the Cost-of-Living Inflation Rate, 19. The P-R-I-C-E of Full Employment in Monopoly Capitalism, 20. The Promise of Finance: Banks and Community Development, SECTION V. THE GLOBAL POLITICAL ECONOMY, 21. What Do Undergrads Really Need to Know About Trade and Finance?, 22. The Rate of Profit in the Postwar Mexican Economy, 1950-1993, 23. Globalization, Technology, and Skill Formation in Capitalism, 24. Capitalism and Industrialization in the Third World: Recognizing the Costs and Imagining Alternatives, 25. Lessons from Economic Transition in Russia and China, 26. The Asian Financial Crisis: What Went Wrong?, 27. The Roots of the Asian Financial Crisis: A Story of Export-Led Growth and Liberalized Capital Flows, 28. Mainstream Responses to the East Asian Crisis: A Radical Interpretation, SECTION VI. EXPLORING POLICY QUESTIONS: THEORY AND APPLICATIONS, 29. The Rise and Fall of the U.S. Welfare State, 30. Five Easy Pieces on the Economics of Tax Justice, 31. Why the Emperor Has No Clothes:The Neoclassical Case for Price Regulation, 32. Broadening the Concept of Pay Equity: Lessons for a Changing Economy, 33. The Earned Income Tax Credit: What It Does and Doesn't Do, 34. Empty Bellies, Empty Promises: Welfare Reform in the Nineties, 35. The U.S. Health Care System: A Reproduction Crisis, 36. The Political Economy of Social Security Reform in the United States, Index, About the Editors and Contributors