Real World Macro

Real World Macro cover image

Note: If you are a student at UMass-Amherst or Bentley, please order through Collective Copies/Levellers Press (link here). If you order through us, there will likely be significant delays.

Edition:
36th
Date of publication:
June 2019
ISBN:
978-1-939402-41-7
Price:
$37.95



  • Introduction
  • Chapter 1: Perspectives on Macroeconomic Theory
    • Introduction
    • 1.1 What’s Wrong with Neoliberalism? Robert Pollin
    • 1.2 The Growth Consensus Unravels Jonathan Rowe
    • 1.3 Opening Pandora’s Box: The Basics of Marxist Economics Alejandro Reuss
    • 1.4 Sharing the Wealth of the Commons Peter Barnes
  • Chapter 2: Macroeconomic Measurement
    • Introduction
    • 2.1 What Does It Mean to Be "Better Off"? Zoe Sherman
    • 2.2 GDP and Its Discontents Alejandro Reuss
    • 2.3 Measuring Economic Development Alejandro Reuss
    • 2.4 Household Labor, Caring Labor, Unpaid Labor Nancy Folbre
    • 2.5 Deflators and the Purchasing Power of the Minimum Wage Dean Baker
    • 2.6 Undercounting the Poor Jeannette Wicks-Lim
  • Chapter 3: Economic Growth and Business Cycles
    • Introduction
    • 3.1 Donald in Wonderland John Miller
    • 3.2 A Future for Growth—If We Choose It? Gerald Friedman
    • 3.3 Why Has the Economy Been Doing So Well? Arthur MacEwan
    • 3.4 As U.S. Economy Weakens, Economists Struggle to Predict Next Recession Dean Baker
    • 3.3 A Future for Growth—If We Choose It? Gerald Friedman
    • 3.3 Is Economic Growth Environmentally Sustainable? Arthur MacEwan
    • 3.4 The “Emerging Economies” Today Jayati Ghosh
  • Chapter 4: Unemployment and Inflation
    • Introduction
    • 4.1 The Relation of Unemployment to Inflation Ramaa Vasudevan
    • 4.2 The "Natural Rate" of Unemployment: It’s All About Class Conflict Robert Pollin
    • 4.3 Let's See How Low the Unemployment Rate Can Go Dean Baker
    • 4.4 What Are The Effects of a $15 Minimum Wage? Arthur MacEwan
    • 4.5 Traditional Measures of Unemployment Are Missing the Mark JMark Paul
    • 4.6 Keynes, Wage and Price “Stickiness,” and Deflation Alejandro Reuss
    • 4.7 Trying Again for Full Employment Gertrude Schaffner Goldberg
  • Chapter 5: Wealth, Inequality, and Poverty
    • Introduction
    • 5.1 Geese, Golden Eggs, and Traps: Why Inequality is Bad for the Economy Chris Tilly
    • 5.2 Pay No Attention to the Inequality Behind the Curtain John Miller
    • 5.3 The Stock Market and Class Conflict John Miller
    • 5.4 Unions and Income Inequality Arthur MacEwan
    • 5.5 Fifty Years After the Kerner Commission Janelle Jones, John Schmitt, and Valerie Wilson
    • 5.6 Inequality, Sunk Costs, and Climate Justice Frank Ackerman
    • 5.7 Inequality in the World Arthur MacEwan
    • 5.8 Wealth Inequality and Wealth Taxation: A Primer on Piketty Steven Pressman
  • Chapter 6: Fiscal Policy, Deficits, and Austerity
    • Introduction
    • 6.1 The Fiscal Crisis of the State Gerald Friedman
    • 6.2 The Ideological Attack on Job Creation Marty Wolfson
    • 6.3 Fiscal Policy and “Crowding Out” Alejandro Reuss
    • 6.4 Are the Trump Tax Cuts Working and Does Anyone Care? Dean Baker
    • 6.5 The Human Toll of Greek Austerity Evita Nolka
    • 6.6 Trump's Budget Would Deny Food to 400,000 Children and Pregnant People Dean Baker
    • 6.6 Puerto Rico's Colonial Economy Arthur MacEwan
  • Chapter 7: Money and Monetary Policy
    • Introduction
    • 7.1 What is Money? Doug Orr
    • 7.2 Is "MMT an Answer for the U.S.? For Greece? Arthur MacEwan
    • 7.3 Should We Blame "Fractional Reserve" Banking? Arthur MacEwan
    • 7.4 Pushing on Strings Gerald Friedman
    • 7.5 Inflation-Targeting and Neoliberalism Gerald Epstein
    • 7.6 Keynes and the Limits of Monetary Policy Alejandro Reuss
    • 7.7 Dollar Dominance Arthur MacEwan
  • Chapter 8: Finance, Savings, and Investment
    • Introduction
    • 8.1 Financialization: A Primer Ramaa Vasudevan
    • 8.2 From “Boring” Banking to “Roaring” Banking Gerald Epstein
    • 8.3 Stock Buybacks: Any Positive Outcome? Arthur MacEwan
    • 8.4 Bubble Bubble, Toil and Trouble Alejandro Reuss
    • 8.5 We’re All Minskyites Now Robert Pollin
    • 8.6 Trump's Tax Cut Has Failed to Deliver Promised Investment Dean Baker
  • Chapter 9: The Global Economy
    • Introduction
    • 9.1 The Gospel of Free Trade: The New Evangelists Arthur MacEwan
    • 9.2 The Globalization Clock Thomas Palley
    • 9.3 Beyond Trump's Tariffs and Trade War John Miller
    • 9.4 Trump Is Giving Protectionism a Bad Name William G. Moseley
    • 9.5 Understanding Brexit John Weeks
    • 9.6 Transnational Capital and Transnational Labor An Interview with William K. Tabb
    • 9.7 Neoliberalism Unchained: A Retrospective on NAFTA James M. Cypher and Mateo Crossa
    • 9.8 Globalization and the End of the Labor Aristocracy Jayati Ghosh
  • Chapter 10: Resistance and Alternatives
    • Introduction
    • 10.1 What Would Full Employment Cost? Arthur MacEwan
    • 10.2 A Green Job Guarantee John Miller
    • 10.3 Progressives Need a Tax-Reform Agenda Gerald Friedman
    • 10.4 Glass-Steagall Now: Because the Banks Own Washington Dean Baker
    • 10.5 Understanding France's Gilets Jaunes Aarth Saraph
    • 10.6 International Labor Standards Arthur MacEwan
    • 10.7 Land Reform and Economic Development Jawied Nawabi
  • Contributors