A Macroeconomic Regime for the 21st Century: Towards a New Economic
Order
The book aims to give non-economists a detailed understanding of how
macroeconomic policy works in modern economies, and the issues it faces.
The world has recently been through a huge economic crisis and thinking people
everywhere have reason to wonder whether something is not seriously wrong with the policy
regimes underlying these dramatic events in the major economies, and whether changes
should be made. The author reviews the history of the successive regimes tried and found
wanting in the second half of the last century and proposes a set of reforms designed to
convert the flawed neo-liberal consensus of the 1990s into a durable regime for the
present century.
Christopher Taylor is a Visiting Fellow at the National Institute of Economic and
Social Research, London. He worked as an economist at the Bank of England for 20 years
until 1994, including a secondment as UK Alternate Executive Director at the International
Monetary Fund, Washington DC, 1981-3. Since 2008 he has been a lecturer and tutor for the
MBA elective course on International Macroeconomics at the Judge Business School,
Cambridge, where he is an Honorary Fellow.
Table of Contents
1. Introduction: To Utopia and Back
2. The Demise of Economic Management
3. The Monetarist Experiment and its Legacy
4. The 1990s Synthesis
5. Problems under the 1990s Synthesis
6. The Global Financial Crisis
7. Monetary Policy
8. Fiscal Policy
9. Exchange Rate Policy
10. Review and Assesment
272 pages, Paperback