Enter your mobile number below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
Getting the download link through email is temporarily not available. Please check back later.
To get the free app, enter your mobile phone number.
Economics After the Crisis: Objectives and Means (Lionel Robbins Lectures) Hardcover – March 23, 2012
See the Best Books of the Month
Want to know our Editors' picks for the best books of the month? Browse Best Books of the Month, featuring our favorite new books in more than a dozen categories.
Customers Who Bought This Item Also Bought
A well-researched and profound rethink of macroeconomic and financial policy after the crisis. Lord Adair Turner not only challenges the consensus on short-term tactical approaches to regulation and macroeconomic management, but he forces the reader to think more deeply about the long term goals of policy, including unfettered growth and the role of the free market.(Kenneth Rogoff, Harvard University)
Adair Turner insists that economics should analyze the world as it actually is and human beings as they actually are and avoid taking its simplifying assumptions too literally. In this short volume he sketches the elements of such an analysis and shows how they can be applied to policy problems of the day, from financial regulation and population growth to climate change and income inequality. No one who worries about the future of the economy -- and the planet -- will fail to be provoked.(Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley)
...With this book, Turner has proved that Britain still produces thinkers who combine ideas with practical experience.(New Statesman)
Adair Turner is the jewel in the crown of British public servants. He is one of a tiny minority in public life today capable of thinking and acting at the highest level. Economics After the Crisis, based on three lectures he delivered at the London School of Economics in 2010, is a thinking person's delight, not least for the clear and lucid way in which Turner sets out his arguments.(Robert Skidelsky The Times Literary Supplement)
About the Author
Adair Turner, Chairman of Britain's Financial Services Authority from September 2008 to March 2013, is a Senior Fellow of the Institute for New Economic Thinking. He is Visiting Professor at the London School of Economics and at Cass Business School, City University London, and the author of Just Capital: The Liberal Economy.
Top Customer Reviews
These arguments include a number of nuanced qualifiers but a highly simplified, one sentence summary of his conclusion would be: "In advanced economies, because of the decreased marginal gains in utility from increased economic growth, and because of the large decreases in utility from sharp recessions, markets should be regulated to provide stability and equality rather than be left free to pursue growth as the ultimate end of economic activity." Proponents of lightly regulated free markets will likely disagree with most of this book, but I think they will find Turner's efforts scholarly, well-thought out, and fairly presented. Turner relies heavily on the work of others, and even if a reader is not impressed with this book, there are several studies and books cited that may lead to works that otherwise would not have been encountered because many of those sources are from British authors not normally cited in U.S. books on economics.
There are a few downsides to note. The price is somewhat high for such a short book.Read more ›
Economic policy has pushed for an ever increasing GDP. But we know that 1% have grown their income and thus GDP, while masking all the loss of income by the rest. So using GDP numbers to define success is false. Page 77 "GDP figures are almost useless as measures of long -term changes in human well-being. Even as measures of long-term changes in what we think they measure (`real income') they are highly imperfect, because they depend on conventions and assumptions that are to a degree arbitrary."
Stock brokers never recommend "sell". They just say to "hold" or "neutral". Similarly, the money and government people never say "depression". They just say "slow growth". Ditto for admitting the inflation we all see in our monthly bills.
The delusions of this crowd about insurance protecting risk if something should invalidate their sacred models is now legendary. Page 52 "The IMF's Global Financial Stability Review on April 2006 noted with approval that credit derivatives `enhance the transparency of the market's collective view of credit risks and thus provide valuable information about broad credit conditions and increasingly set the marginal rive of credit'". Page 53 "It is now obvious that this dominant ideology was wrong, failing to allow for the potential downside of the instability that increased financial complexity might produce.Read more ›
Most Recent Customer Reviews
certainly a worth while read but written in the stuffy British style.Published 11 months ago by david gabriel
This book’s main premise is that GDP growth, as a goal, is too emphasized by economists, policy makers and the public at large (at least for the developed nations – for the less... Read morePublished 23 months ago by Yoda