000			01422nam a2200217Ia 4500
999			_c229595 _d229595
005			20220714202603.0
008			200208s9999 xx 000 0 und d
020			_a9780415572880
082			_a339.522 NEL
100			_aNell, Edward.
245		0	_aProsperty and public spending
260			_aLondon
260			_bBoston
260			_c1988
300			_a270 p.
365			_b9000
365			_dRS
520			_aIn a dramatic and well-argued challenge to the prevailing wisdom, Prosperity and Public Spending, first published in 1988, contends that the failure of Keynesian economics has been due to its timidity. Far from contracting, the government must expand its powers and activities, in order to achieve and maintain economic prosperity. The need for such expansion arises from the fact that the system has developed from a craft-based economy to a mass-production network with sophisticated international finance. This "transformational growth" brings about irreversible and sometimes devastating changes, requiring government action. Professor Nell argues that a lack of government action in the decade prior to the book’s initial publication was responsible for the stagnation of the economy and he asserts that this could only be overcome by a determined policy intervention and the political will to achieve dominance over private capital.
650			_a"Expenditures,public"
942			_cB _2ddc