Overview
This book studies the relationships between aggregate demand, inequality and instability. It extends the traditional approach by introducing wealth and inequality into a dynamic macroeconomic model. Furthermore, it examines the role that debt and financial instability can play in turbulent times such as the Great Recession and its aftermath.Unlike Piketty, the author analyzes the relationships between instability and inequality, and the feedbacks from the latter to the former, in a system approach where real and monetary factors interact to generate complex patterns. The book does not discover 'iron laws' because the results depend on the nature of the model, the values of the parameters and the policy pursued. However, the role of inequality is proven to play a decisive role in shaping dynamics. Finally, the author discusses the link between medium and long- run problems, and the challenges that remain to be faced. Piero Ferri's original application of economic principles to the topic of inequality will make this book essential reading for all economists, particularly those of a macro orientation.
Full Product Details
Author: Piero Ferri
Publisher: Edward Elgar Publishing Ltd
Imprint: Edward Elgar Publishing Ltd
ISBN: 9781786433046
ISBN 10: 1786433044
Pages: 192
Publication Date: 30 December 2016
Audience:
College/higher education
,
Postgraduate, Research & Scholarly
Format: Hardback
Publisher's Status: Active
Availability: To order
Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us.
Reviews
'Piero Ferri is one of the most sophisticated economists with a firm grasp of the economic methodologies necessary to understand our complex and unstable economies, which he has studied for many years. He now adds to his modelling of Minsky processes, studies of income inequality that highlight and illuminate the key issues that bother us today. This book is essential reading for the professional economist.' - Jan Toporowski, SOAS, University of London, UK
'Piero Ferri is one of the most sophisticated economists with a firm grasp of the economic methodologies necessary to understand our complex and unstable economies, which he has studied for many years. He now adds to his modelling of Minsky processes, studies of income inequality that highlight and illuminate the key issues that bother us today. This book is essential reading for the professional economist.' -- Jan Toporowski, SOAS, University of London, UK
`Piero Ferri is one of the most sophisticated economists with a firm grasp of the economic methodologies necessary to understand our complex and unstable economies, which he has studied for many years. He now adds to his modelling of Minsky processes, studies of income inequality that highlight and illuminate the key issues that bother us today. This book is essential reading for the professional economist.' -- Jan Toporowski, SOAS, University of London, UK
Author Information
Piero Ferri, Professor Emeritus of Economics, University of Bergamo, Italy
