Dilip M. Nachane: Critique of the new consensus macroeconomics and implications for India
- 10 Downloads
It is undoubtedly refreshing to go through the scholastic and erudite book titled ‘Critique of the New Consensus Macroeconomics and Implications for India’ (Published by Springer India) written by Professor Dilip M. Nachane, an eminent scholar and a reputed quantitative economist. The book provides an intellectual feast by presenting such granular details and a gripping note on evolution of modern macroeconomics, compelling, not surprisingly, ex-World Bank Chief Economist, Prof. Kaushik Basu to confess that he would have loved to have had this book on hand during his tenure as Chief Economic Advisor to Government of India. This unusual volume delivers a story, less heard in academic lullaby where gallantry of invincible New Consensus Macroeconomics (NCM) has been scrutinized through a thorough and detail intellectual dissection of economic literature. NCM, being a blend of different ideas from diverget schools of economic thought like stickiness of price and wage of new Keynesian...
- Bernanke, B. S. 2005. The global saving glut and the US current account deficit (No. 77). Federal reserve board. in Speech at the Sandridge Lecture, Virginia Association of Economists, Richmod, Virginia.Google Scholar
- Hayek, F. 1929. Monetary theory and the trade cycle. New York: Sentry Press (1933).Google Scholar
- Mises, L. V. 1998. Human action: A treatise on economics. The Scholar’s Edition. Ludwig von Mises Institute, Auburn, Ala.Google Scholar
- Murphy, R. 2011. My reply to Krugman on Austrian business-cycle theory. Mises. org (January 24, 2011). http://mises.org/daily/4993