Introduction -- The monetary convergence hypothesis -- Evidence of monetary divergence -- From fiscal to monetary divergence -- Explaining divergence in the policy mix -- Illustrating partisan divergence in the policy mix -- Expanding the argument

"This innovative book focuses on the current global financial crisis and the inadequacies of the economic theories being used to guide policy. In so doing, it tackles the economic theories that have been used firstly to understand its causes and thereafter to contain the damage it has brought."...

1. "The Realism of Assumptions Does Matter: Why Keynes-Minsky Theory Must Replace Efficient Market Theory as the Guide to Financial Regulation Policy." In The Oxford Handbook of the Political Economy of Financial Crises, Gerald Epstein and Martin Wolfson, eds. New York: Oxford University Press,...

Lance Taylor is widely considered to be one of the pre-eminent development economists in the world and is known for his work on development planning, macroeconomics of development, stabilization policy, and the global economy. He has also been the major force behind structuralist economics,...