Steven A. Waller
The Real World of the New Economy
Издательство: Writers Club Press, 2001 г.
0-595-20440-6
Книгопечатная продукция
Объем: 476 стр.
Steven Waller`s new book provides readers with economic information outside the conventional school of thought. The so-called New Economy is redundant except in static traditional economic thinking. Many of the ideas are not new but are unknown. Our culture and society plays a major role in directing the future path of business and economics as well as our understanding of economics. There is also a great deal of information about the Internet and technological advancement in the context of economics. Society also plays a major role of inhibiting growth in these areas. The recent terrorist attacks are just one example of this future economic path included in the book. "Supply creates its own demand" is no longer a valid statement. Supplying goods to the market no longer orients the economy or determines prices. The economy is highly dependent on the demand for goods and services. Alan Greenspan`s benchmark interest rate declarations are thought to spark or inhibit the economy in the traditional thinking, but this is a supply orientation. Today`s dynamic economy is rarely influenced by these interest rate declarations. It would be more appropriate to state that consumers` and businesses` expectations of the future are primarily what are influenced by the prevailing interest rate. Without demand, it makes little difference in the economy of how low interest rates are set. The author gives many examples of where the influence of effective demand and future expectations is why business chooses to produce or increase production. The Heterodox Triad of Understanding provides readers with the fundamental method to view the economy. He then follows up with what it takes to improve economic growth based on these ideas. Readers that have not had college level economics should easily understand the book. It is a very common-sense approach to a highly complex economic world. The book should be read by anyone who earns a living or is in the business world.
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