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Power, norms, and inflation : a skeptical treatment

Author: Michael R Smith
Publisher: Abingdon, Oxon ; New York, NY : Routledge, Taylor & Francis Group, 2017.
Series: Sociology and economics.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
"Explanations for inflation had for a long time been ceded to the purview of economists. The acceleration in rates of inflation within advanced economies during the 1960s and 1970s, however, prompted sociologists and political scientists to attempt their own accounts for this phenomenon. There are two major competing explanations of the postwar inflation. One, most commonly held by economists, is that inflation has  Read more...
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Genre/Form: Electronic books
Additional Physical Format: Print version:
Smith, Michael R.
Power, Norms, and Inflation : A Skeptical Treatment.
Milton : Taylor and Francis, ©2017
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Michael R Smith
ISBN: 9781315127187 1315127180 9781351497343 1351497340 9781351497350 1351497359 9781351497336 1351497332
OCLC Number: 1005618499
Notes: Originally published 1992 by Transaction Publishers.
Description: 1 online resource (318 pages).
Contents: Cover; Half Title; Title Page; Copyright Page; Contents; Acknowledgments; 1. Introduction; 2. Orthodox Economic Treatments; Three Macroeconomic Theories; The Theories Compared; Notes; 3. Pure Self-Interest and the Politics of Inflation; A Democratic Basis for Inflation; The Evidence; Public Choice Accounts of Inflation: An Appraisal; Notes; 4. Theories of Secular Decline; Unbridled Demands; Institutional Sclerosis; The Decline of Hegemony; Conclusion; Notes; 5. Wage-Push; The Mechanics of a Wage-Push; The Evidence; Direct Evidence of a Wage-Push; Conclusion; Notes. 6. Corporatism and the Long RunNeocorporatism and Economic Performance; Some Reservations; A More Fundamental Issue; Notes; 7. The Effects of Institutions on Macroeconomic Performance; Quantitative Studies: Some Methodological Problems; Institutions and Performance: Claims and Alternatives; Germany; Austria; Sweden; Japan; Conclusion; Notes; 8. Marxist Theories; Theories of Crisis; Marxist Accounts: An Appraisal; Conclusion; Notes; 9. Conclusion; What Did Cause the Postwar Inflation?; Power, Norms, and Economic Sociology; Notes; References; Index.
Series Title: Sociology and economics.
Responsibility: Michael R. Smith.

Abstract:

"Explanations for inflation had for a long time been ceded to the purview of economists. The acceleration in rates of inflation within advanced economies during the 1960s and 1970s, however, prompted sociologists and political scientists to attempt their own accounts for this phenomenon. There are two major competing explanations of the postwar inflation. One, most commonly held by economists, is that inflation has been produced by governments through a combination of policy errors and cynical manipulation of policy for electoral purposes. The other, often advanced by sociologists and political scientists as an alternative, is that inflation has been an outcome of class conflict. In his study that ranges widely over the literature in the relevant disciplines, Smith examines the strengths and weaknesses of each account, with particular attention to the evidence presented in support of class-conflict explanations. He concludes that, on balance, the policy-error/cynical-manipulation explanation is better supported than its class-conflict rival. The clarity with which Smith presents these rival accounts and the critical rigor of his scrutiny make this a work of interest to advanced students in macroeconomic theory and to policy makers."--Provided by publisher.

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-Smith (sociology, McGill Univ.) presents an intensive, critical examination of the vast literature developed by sociologists, political scientists, and others that supplements or replaces the Read more...

 
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