This book explores institutional change and economic behaviour by examining the transition process in the former socialist countries that joined the EU in 2004, looking at the growth occurring in China, offering a historical perspective on economic underdevelopment in the Middle East, and...

Money, distribution and economic policy takes issue with the inappropriate treatment of money, effective demand and distribution issues in modern mainstream macroeconomics. It presents contributions which are critical of modern orthodoxy and which explore alternative approaches to macroeconomics...

Within the New Consensus Macroeconomics, monetary policy is upgraded while fiscal policy is downgraded. This new monetary policy has been the main instrument of policy under the guise of inflation targeting, an approach pursued by a number of central banks worldwide. This book raises problems...