Economic Reform Now ― A Global Manifesto to Rescue Our Sinking Economies

Right now the global economy is on the brink of (another) depression. In Economic Reform Now, some of the world's leading economists issue a strong warning on the grave errors that are threatening to take the global economy over the brink. Richard Koo warns about the dangers of fiscal austerity in times of deleveraging by the private sector. James K. Galbraith illustrates the dangers of deregulation of the financial markets. Paul Davidson explains the concept of objective uncertainty. Jayati Ghosh explores economic integration in the developing world. And Heiner Flassbeck wraps up by highlighting the need for a new international monetary system that better reflects the fundamentals and puts trade back into its proper role of stimulating development. As Europe moves closer to economic disaster, and America fights back a return to double-digit unemployment, this is a must read for policy makers and anyone else concerned about the economy.

Paul Davidson is Holly Chair of Excellence in Political Economy at the University of
Tennessee, Knoxville. He is the author of The Keynes Solution and editor of the Journal of Post Keynesian Economics.

James K. Galbraith teaches economics and a variety of other subjects at the University of Texas. He served in several positions on the staff of the US Congress, including Executive Director of the Joint Economic Committee.

Richard C. Koo is the Chief Economist of Nomura Research Institute, the research arm of Nomura Securities, the leading securities house in Japan. He advised successive prime ministers on how best to deal with Japan's economic problems.

Heiner Flassbeck works for the UN and is director of the Division on Globalization and Development Strategies (GDS) of UNCTAD, Genf. Previously, he was state secretary in the German Ministry of Finance.

Jayati Ghosh is one of the world's leading economists. She is professor of economics at Jawaharlal Nehru university, New Delhi, and the executive secretary of International Development Economics Associates (Ideas).