CCSF ECON 1 - Book Review: Intro to Macroeconomics by Robert Pollin (4 pages)

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Book Review: Intro to Macroeconomics by Robert Pollin



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Book Review: Intro to Macroeconomics by Robert Pollin

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Pages:
4
School:
City College of San Francisco
Course:
Econ 1 - Principles of Macroeconomics

Unformatted text preview:

Contours of Descent U S Economic Fractures and the Landscape of Global Austerity Robert Pollin Verso September 2003 160 pages If we have learned anything from thinkers such as Althusser Foucault and Derrida it is that no interpretation of a text can ever be impartial So to reveal a few of my own sources of bias let it be known that I studied at the University of Massachusetts Amherst where Robert Pollin teaches and works at the Political Economy Research Institute and I am generally sympathetic to his work on such topics as living wages and financial market regulation I use this book as a text for my introductory macroeconomics course The book is well written beginning each chapter with a hook often taken from a popular source such as an article editorial or political speech Pollin proceeds to demolish conservative arguments about the ideal 1990 s economy The tone of the book is evenhanded and reasonable yet makes a solid persuasive case The basic argument of the book is two fold first the neoliberal policies pursued during the Clinton years and the first two years of the Bush administration have led to an increase in economic inequality both in the US and elsewhere in the world through institutions and agreements such as the IMF the World Bank the WTO and NAFTA Second the prosperity of the Clinton years and the slump of the Bush years are simply two sides of the same coin for both result from the increased economic volatility that results from neoliberal policies of deregulated financial markets and the lack of effective government action to stabilize aggregate demand as well as a basic antipathy towards worker s rights As should be clear from the summary above the main theoretical apparatus of the book is quite close to what Keynes argues in The General Theory and elsewhere and what left leaning economists who followed Keynes have developed since the 1930 s Pollin makes his approach clear in the first chapter where he addresses what he considers three major



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