Heterodox Economic Policy for the 21st Century

Challenging Conventional Wisdom

In the aftermath of the Great Recession, the limitations of conventional economic policies have become increasingly apparent. 'Heterodox Economic Policy for the 21st Century' boldly challenges orthodox approaches, offering a fresh perspective rooted in history, empirical evidence, and logical reasoning.

This book presents an alternative framework that goes beyond mainstream economic models. It explores the profound implications of cognitive biases, inequality, and environmental externalities on economic outcomes.

Pillars of Heterodox Policy

The book identifies four key pillars of heterodox economic policy:

1. Macroeconomic stability and growth: Emphasizing job creation, wage growth, and sustainable debt levels.
2. Social equity and inclusion: Promoting access to quality education, healthcare, and affordable housing for all.
3. Environmental sustainability: Recognizing the urgent need to address climate change and protect the biosphere.
4. Democratic governance and economic pluralism: Fostering a participatory economy where diverse voices are heard.

Innovative Strategies for Economic Transformation

'Heterodox Economic Policy for the 21st Century' presents a comprehensive set of strategies to achieve these goals, including:

• Modern Monetary Theory to promote full employment and price stability.
• Universal Basic Income to address poverty and inequality.
• Green New Deal to transition to a low-carbon economy.
• Participatory Budgeting to empower citizens in local economic decision-making.
• Employee Ownership to foster worker cooperation and productivity.

Empirical Evidence of Success

The book provides compelling evidence of the effectiveness of heterodox policies. Case studies from around the world illustrate how countries have successfully implemented these approaches to achieve economic growth, social justice, and environmental sustainability.

For example, Costa Rica's pioneering efforts in conservation and education have led to both economic prosperity and environmental protection. Similarly, the Nordic countries' commitment to social welfare and democratic governance has fostered high living standards and inclusive societies.

Redefining Economic Progress

'Heterodox Economic Policy for the 21st Century' challenges the narrow focus on GDP growth as a measure of economic progress. It introduces alternative metrics that capture social, environmental, and well-being indicators.

By broadening our understanding of economic success, we can create policies that prioritize human flourishing and planetary health.

Empowering Citizens and Policymakers

The book is not merely an academic treatise. It is a call to action for citizens and policymakers to embrace heterodox economic policies.

Empowered with knowledge and evidence, readers can advocate for policies that promote a more just, sustainable, and prosperous society for all.

'Heterodox Economic Policy for the 21st Century' is a groundbreaking work that provides a roadmap for a better economic future. By challenging conventional wisdom, embracing innovation, and empowering citizens, we can create an economy that works for everyone and for generations to come.