Pablo G. Bortz, University of San Martin, Argentina

’In this wide-ranging new book, Pablo Bortz skillfully melds an analysis of private foreign debt and a stock-flow consistent model of international financial flows with a neo-Kaleckian approach to the relationship between income distribution and macroeconomic performance. His model simulations and econometric results demonstrate the key role that unregulated private financial flows play in destabilizing national economies and underscore the flaws in strategies for economic recovery based on fiscal austerity and currency devaluation, as well as the need to reinstitute capital controls. This book will become an important reference for insights into the policy choices facing emerging market and Eurozone countries alike as they seek to escape from the trap of secular stagnation.'

• Contents: Preface 1. Introduction 2. Growth and Distribution: The Last 300 Years 3. Growth and Distribution: The Kaleckian Perspective 4. An Integration of the Real and the Monetary Economy 5. Financial Flows, Distribution and Capital Controls 6. Epilogue: Challenges and Possibilities References Index

Pablo G. Bortz, University of San Martin, Argentina

’In this wide-ranging new book, Pablo Bortz skillfully melds an analysis of private foreign debt and a stock-flow consistent model of international financial flows with a neo-Kaleckian approach to the relationship between income distribution and macroeconomic performance. His model simulations and econometric results demonstrate the key role that unregulated private financial flows play in destabilizing national economies and underscore the flaws in strategies for economic recovery based on fiscal austerity and currency devaluation, as well as the need to reinstitute capital controls. This book will become an important reference for insights into the policy choices facing emerging market and Eurozone countries alike as they seek to escape from the trap of secular stagnation.'

• Contents: Preface 1. Introduction 2. Growth and Distribution: The Last 300 Years 3. Growth and Distribution: The Kaleckian Perspective 4. An Integration of the Real and the Monetary Economy 5. Financial Flows, Distribution and Capital Controls 6. Epilogue: Challenges and Possibilities References Index

Pablo G. Bortz, University of San Martin, Argentina

’In this wide-ranging new book, Pablo Bortz skillfully melds an analysis of private foreign debt and a stock-flow consistent model of international financial flows with a neo-Kaleckian approach to the relationship between income distribution and macroeconomic performance. His model simulations and econometric results demonstrate the key role that unregulated private financial flows play in destabilizing national economies and underscore the flaws in strategies for economic recovery based on fiscal austerity and currency devaluation, as well as the need to reinstitute capital controls. This book will become an important reference for insights into the policy choices facing emerging market and Eurozone countries alike as they seek to escape from the trap of secular stagnation.'

• Contents: Preface 1. Introduction 2. Growth and Distribution: The Last 300 Years 3. Growth and Distribution: The Kaleckian Perspective 4. An Integration of the Real and the Monetary Economy 5. Financial Flows, Distribution and Capital Controls 6. Epilogue: Challenges and Possibilities References Index