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OverviewEurozone Dystopia traces the origin of the Eurozone and shows how the historical Franco-German rivalry combined with the growing dominance of neo-liberal economic thinking to create a monetary system that was deeply flawed and destined to fail. William Mitchell argues that the political class in Europe is trapped in a destructive groupthink. Based on a flawed understanding of macroeconomic fundamentals, groupthink extols the virtues of the erroneous concept of the self-regulating free market and prevents Europe from seeing its own policy failures. As a result, millions are unemployed, with imperiled member states caught in a cycle of persistent stagnation and rising social instability.Providing a detailed historical analysis of the evolution of the Eurozone and its failings from the 1940s to the present day, the book argues that the Eurozone lacks the necessary monetary architecture, particularly the existence of a federal fiscal function which could have resolved the economic crisis quickly. The author examines the options available to Europe and concludes that an orderly abandonment of the euro and a return to national currencies is the superior option available. The justification for this conclusion is exhaustively argued within a Modern Monetary Theory framework. This thoughtful and accessible account of Europe's economic woes will appeal to all those who are seeking an explanation for the crisis and are receptive to sensible and credible alternatives to the current scenario. Full Product DetailsAuthor: William MitchellPublisher: Edward Elgar Publishing Ltd Imprint: Edward Elgar Publishing Ltd Dimensions: Width: 15.60cm , Height: 3.30cm , Length: 23.40cm Weight: 0.878kg ISBN: 9781784716653ISBN 10: 1784716650 Pages: 520 Publication Date: 29 May 2015 Audience: College/higher education , Professional and scholarly , Postgraduate, Research & Scholarly , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: To order  Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us. Table of ContentsContents: 1. Introduction PART I THE EARLY YEARS 2. Early Attempts at Monetary Union and the Hague Summit 3. The Werner Report and the Collapse of Bretton Woods 4. The 'Snake in the Tunnel' Reappears 5. Monetarism Arrives Amidst Currency Turmoil 6. The Delors Report 7. Onward to Maastricht 8. The Maastricht Treaty 9. Converging to Crisis and Austerity 10. The Ideological Straitjacket 11. The Stability and Growth Pact (SGP) 12. The Convergence Farce: Smokescreens and Denial PART II THE PATH TO CRISIS 13. The First Few Years: Smug Self Congratulation and Mass Delusion 14. The 2003 Fiscal Crisis 15. The German Jobwunder 16. European Groupthink: Denial on a Grand Scale PART III THE OPTIONS FOR EUROPE 17. A Monetary Framework for Fiscal Policy Activism 18. Framing the Debate - Two Alternative Visions of the Economy 19. The Basic Principles of Functional Finance 20. The Federal Solution 21. Overt Monetary Financing 22. Abandoning the Euro 23. Employment Guarantees References IndexReviewsAuthor InformationWilliam Mitchell, Professor of Economics, Centre of Full Employment and Equity, University of Newcastle, Australia Tab Content 6Author Website:Countries AvailableAll regions |
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