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Palley (Post-Keynesian Economics: Debt, Distribution, and the Macro Economy, St. Martin's, 1996) presents this remarkable text that attempts to dispel many of the myths associated with economic naturalism. He investigates why the rich have gotten richer, the poor have gotten poorer, and the middle class has shrunk, introducing an economic evaluation of the U.S. economy from the "main street capitalism" of the past and the "mean streets capitalism" of the present. The argument for structural Keynesianism compels a reassessment of current policies and attitudes toward labor and stresses that increasing employment must take precedence over decreasing inflation when formulating fiscal policies. According to Palley, a prosperous and equitable economy can be sustained by increasing real income for workers and allowing everyone to share the wealth. This well-organized work is extensively supported by statistics, charts, and graphs. With its timely appeal, it warrants a place on the shelves beside other master works of economic theory. Highly recommended for public and academic libraries.?Robert L. Balliot Jr., East Greenwich Free Lib., RI
Copyright 1998 Reed Business Information, Inc.
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One of Choice's Outstanding Academic Titles for 1998
"This is a good and useful book. At a time when mediocre economic performance is celebrated as though it were excellent . . . Plenty of Nothing is for people who are tired of being treated like fools. . . . The revolutionary thought that policy does matter, for good or evil, is a prime contribution of this book, though it is a mark of the degraded state of economic discourse that it is needed at all."--James K. Galbraith, Dissent
"Thomas Palley has presented us with a timely book . . . a necessary book. . . . It reminds us that we do not have to accept Wall Street's version of the choices we face."--Robert E. Prasch, Review of Political Economy
"A useful and often insightful treatise on policy debates and recent economic debates in the United States. He ably documents and explains 'the downsizing of the American dream.'"--James Devine, Science & Society
"Thomas I. Palley has written an important book in a clear and persuasive style. He understands the economic plight of working American families. He explains what caused that plight and what can be done about it. . . . His analysis is rigorous. His conclusions are correct. His policies are the right stiff. He discusses the kind of family policy we need for the next millennium."--William M. Dugger, Review of Social Economy