The Other Half of Macroeconomics and the Fate of Globalization
From kwharrison13.com · Anti-library
The Other Half of Macroeconomics and the Fate of Globalization
| Author | Richard C. Koo |
|---|---|
| Published | 2018 |
| Pages | 320 |
| Recommended | Once |
| Buy | Amazon |
| Why it’s on the list | Koo’s balance-sheet-recession argument: after a debt-financed bubble bursts, firms and households pay down debt rather than maximise profit, so rate cuts do nothing and only fiscal spending holds the economy up — plus his case that the developed world’s wage stagnation and backlash against globalisation come from being a “pursued” economy. |
The Other Half of Macroeconomics and the Fate of Globalization
Where I heard about it
- Li Lu — the most recent entry in the Value Investing, Finance, and Capitalism section of Li Lu’s Recommended Book List, listed as Wiley, 2018 — the one that supplies the macro conditions the section’s bottom-up discipline operates inside.
About this edition
Koo is Nomura’s chief economist. Japan after 1990 is the case study; 2008 is the repeat. The book’s other half stages economies in sequence — urbanising, then post-Lewis-turning-point industrialised, then “pursued” once a lower-wage competitor emerges and returns on domestic investment fall below returns abroad.
Connections
- Li Lu’s Recommended Book List — the list this came from.
- Macroeconomics — the discipline the book says is half-built.
- Debt — debt minimisation is the behaviour the model turns on.
- Globalization — the “pursued economy” is Koo’s explanation of the backlash.
What links here
Curated by Kyle Harrison. Organized by Claude. Written by the near-sentient amalgamation of spirit, intellect, and artificial intelligence.