Chapter 1. Introduction -- Chapter 2. Are Current Policies on Track to Eliminate Poverty? -- Chapter 3. How Mainstream Economics Works -- Chapter 4. Basic Principles to Understand Macroeconomics -- Chapter 5. Markets Alone Make No Development -- Chapter 6. Developing Countries in Global...

Macroeconomic outcomes in low-income countries (LICs) have improved markedly in recent years, but important questions remain regarding possible adjustments in the design of IMF-supported programs in such countries. This paper draws on a review of the literature as well as the experience of 15...

There are two major failings in policy interventions in the crisis in the US and Europe: the reluctance to remove the debt overhang through timely, orderly and comprehensive restructuring and the shift to fiscal austerity after an initial reflation. These have resulted in excessive reliance on...