A Great Leap Forward: Heterodox Economic Policy for the 21st Century investigates economic policy from a heterodox and progressive perspective. Author Randall Wray uses relatively short chapters arranged around several macroeconomic policy themes to present an integrated survey of progressive policy on topics of interest today that are likely to remain topics of interest for many years.
- Rejects neoclassical orthodoxy as the appropriate tool for understanding 21st century economic and social life
- Considers subjects such as innovation and technological progress
- Explores public institutions, global trade, and financial regulation
INTRODUCTION: biography and work, framework of the book, what is the heterodox/MMT approach Part A. THE TROUBLE WITH FINANCIALIZATION Part B. THE ROAD TO SOCIAL PROGRESS: Social Security, Healthcare, Insurance and Pensions Part C. POVERTY, INEQUALITY, AND JOBS FOR ALL Part D. THE ROAD TO INNOVATION, TECNOLOGICAL PROGRESS AND A GREEN ECONOMY Part E. PUBLIC INSTITUTIONS MATTER CONCLUSION: a call for a bold and progressive political agenda
L. Randall Wray is a professor of economics at Bard College. His current research focuses on providing a critique of orthodox monetary theory and policy, and the development of an alternative approach. He also publishes extensively in the areas of full employment policy and, more generally, fiscal policy. With President Dimitri B. Papadimitriou, he is working to publish, or republish, the work of the late financial economist Hyman P. Minsky, and is using Minsky's approach to analyze the current global financial crisis.