The Other Half of Macroeconomics and the Fate of Globalization

An entirely new approach to analyzing the economic problemsof today's advanced countries, from a leading economist

The Other Half of Macroeconomics and the Fate of Globalization presents a totally new approach to macroeconomics that offers a solution to the challenges of stagnation and worsening inequality that trouble so many advanced countries.

Since the Great Recession of 2008, most of the developed world has been mired in stagnation. The repeated failures of central banks and governments to meet inflation or growth targets despite truly exorbitant levels of monetary accommodation have left the public justifiably suspicious of the establishment and its economists.

Richard C. Koo, a noted thought leader in economics and creator of the concept of balance sheet recessions ? which triggered the current focus on debt in global policy debate?introduces the insightful new concept of pursued economies in this book. This concept shows that the effectiveness of monetary and fiscal policy changes as an economy undergoes different stages of development It also identifies the core drivers of the economic and political predicaments advanced nations face today and shows how these countries can move forward in the new global environment.