{"product_id":"pursued-economy","title":"Pursued Economy","description":"\u003cp\u003eIn \u003ci\u003ePursued Economy,\u003c\/i\u003e celebrated economist and thought leader Richard C. Koo starts with his original concepts of balance sheet recession and global competition for capital to explain why the Great Recession lasted for so long and why those policies that worked so well in the past are no longer working today. \u003c\/p\u003e\u003cp\u003eReaders will discover that advanced economies moved from what the author calls the “golden era” to the “pursued era” of economic development decades ago, but the policy debate in these countries continues to be based on golden era assumptions that are still taught in universities. That mismatch has led to an over-reliance on monetary policy and an under-reliance on fiscal policy that are distorting economies and worsening inequality in most advanced economies. \u003c\/p\u003e\u003cp\u003eWith many real-world examples from the author’s extensive involvement in the policy debate on economic, banking and trade issues in several countries, including the U.S., the book describes the correct policy mix in the pursued era as distinct from that in the golden era. It also explains the challenges central banks face in fighting inflation after a decade of over-reliance on monetary policy that flooded the world’s economies with unprecedented liquidity. \u003c\/p\u003e\u003cp\u003eInstead of simply assuming the existence of “trend growth rates”, this book tackles the issue of economic growth head-on to elucidate the symmetry between the drivers of growth and the drivers of recession. It also points out that there is a fundamental disconnect between free trade and free capital movements that must be addressed in order to maximize the gains from globalization while minimizing its costs. Written in simple language and with a great sense of urgency, \u003ci\u003e Pursued Economy\u003c\/i\u003e should be of interest to anyone who is concerned about the global economy, financial stability and geopolitics.\u003c\/p\u003e","brand":"Richard C. Koo","offers":[{"title":"Default Title","offer_id":42849093517373,"sku":"9781119984276","price":55.76,"currency_code":"AUD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0597\/7689\/2989\/files\/9781119984276_66ae81a5-fabf-4ae3-a92b-e9a1c72e649e.jpg?v=1766993479","url":"https:\/\/www.palmleaf.com.au\/products\/pursued-economy","provider":"Palmleaf","version":"1.0","type":"link"}