World Economy at the Crossroads

Synopsis

At the close of the 20th century, the world economy is at a crossroads. After the increase in both inflation and unemployment in the 1970s, the postwar economic paradigm based on the supposed trade-off between unemployment and inflation collapsed, sending shock waves through much of the economics profession and stimulating the search for a new paradigm. That search continues. This study examines the critical issues underlying the search for a new paradigm and outlines the new global political economy that seems to be emerging and replacing the old policy consensus.

Additional information

Contributors:
Publisher: Place of publication:
  • Westport, CT
Publication year:
  • 1997