The ABCs of Political Economy - Second Edition A Modern Approach

This revised edition of ABCs is a lively and accessible introduction to modern political economy. Informed by the work of Marx, Veblen, Kalecki, Robinson, Minsky and other great political economists, Robin Hahnel provides the essential tools needed to understand economic issues today.

Dispelling myths about financial liberalisation, fiscal austerity, globalisation and free markets, the ABCs offers a critical perspective on our present system and outlines clear alternatives for the future.

This second edition applies the analytical tools developed to help readers understand the origins of the financial crisis of 2007, the ensuing 'Great Recession,' and why government policies in Europe and North America over the past six years have failed to improve matters for the majority of their citizens. The second edition also helps explain what is causing climate change and what will be required if it is to be resolved effectively and fairly.

Robin Hahnel is Professor Emeritus of Economics at American University in Washington DC, USA. He is co-author (with Michael Albert) of Unorthodox Marxism (South End Press 1978) and The Political Economy of Participatory Economics (Princeton University Press 1991), and author of Economic Justice and Democracy (Routledge 2005), Green Economics (M.E. Sharpe 2011), and Of the People, By the People: The Case for a Participatory Economy (AK Press 2012).

Introduction
1. Economics and Liberating Theory
2. What Should We Demand from Our Economy?
3. A Simple Corn Model
4. Markets. Guided by an Invisible Hand or Foot?
5. Micro Economic Models
6. Macro Economics. Aggregate Demand as Leading Lady
7. Money, Banks and Finance
8. International Economics: Mutual Benefit or Imperialism?
9. Macro Economic Models
10. What Is To Be Undone? The Economics of Competition and Greed
11. What Is To Be Done? The Economics of Equitable Cooperation
Conclusion
Notes
Index