The Golden Age Illusion: Rethinking Postwar Capitalism (Hardback)
  • The Golden Age Illusion: Rethinking Postwar Capitalism (Hardback)
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The Golden Age Illusion: Rethinking Postwar Capitalism (Hardback)

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£47.99
Hardback 734 Pages / Published: 28/11/1996
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Reassessing common interpretations of postwar economic history and geography, this book focuses on the evolution of the global economy from the 1950s to the present. It is a thorough integration of theoretical and empirical work, drawing data from around the world, with detailed studies of two advance industrialized nations--Japan and the United States; two semi-peripheral economies--Australia and Canada; and three newly industrializing countries--Brazil, South Korea, and Taiwan. The authors build on standard models of economic change to incorporate new developments in regional dynamics: they use nonlinear, nonequilibrium, and evolutionary arguments to frame discussions of profit rates, technological change, and interregional capital flows.

In assessing traditional explanations of postwar economic growth and crisis, the work highlights the geographic form of postwar growth, globalization. It clearly illustrates the failure of traditional theories to adequately account for the emergence of selected newly industrializing countries. The authors conclude with a new interpretation of the global slowdown--one that emphasizes the endogenous nature of capitalist crises and demonstrates how the newly industrializing economies expanded as a result of that slowdown.

Publisher: Guilford Publications
ISBN: 9780898625738
Number of pages: 734
Weight: 978 g
Dimensions: 248 x 171 x 36 mm


MEDIA REVIEWS
"This book is a major contribution. It takes theory seriously as a foundation for empirical investigation, provides summaries of work, including econometric studies, from diverse perspectives, and offers an open and rigorous approach to the factual record." --"Journal of Economic Literature"
"The work of Michael Webber and David Rigby...is timely and exceedingly important....They take up the challenge of late twentieth century economic history in a fashion that is both analytically rigorous and empirically rich....Their demanding and extensive study is therefore a most important contribution of relevance to a wide array of disciplines." --"Journal of Regional Science"
., ."a major theoretical and empirical work that deserves a serious read by macroeconomists, economic geographers, and other scholars of the global economy....a wonderfully rich text....I heartily recommend this book for initiated followers of the global economy." --"Economic Geography"

"Webber and Rigby's "Golden Age of Illusion" is an extraordinary achievement and a 'must-read' for every serious student of the global economy. I can think of nothing remotely comparable. It provides a thoroughgoing reinterpretation of world economic trends of the last fifty years that overthrows most of the canon on globalization and the rise and fall of nations.
"This is a huge and difficult book, with a compact and rigorous form of argument that is not for beginners or the scientifically faint of heart. Rarely does a book show a surer grasp of economic theory, world history, and econometric methods all at once. But the patient reader is rewarded by a tour de force through the global economy, one full of surprises and original insights. Webber and Rigby put to flight a host of pieties about free trade, equilibrium, competitive advantage, modes of regulation, and international division of labor means of the rigorous unapologetic application of classical political economy.
"These authors show an admirable capacity to work systematic models through the immense variety of real history while neither abandoning explanation nor dissolving complexity. A coup for economic geography and a challenge to the economists--if they know what hit them." --Richard A. Walker, Ph.D., Professor and Chair, Department of Geography, University of California at Berkeley
"This is a remarkable book. It is a major contribution to the theory of capitalist growth, competition and crisis, and it is a major contribution to the theory of spatial and sectoral uneven development. It is crammed with data, equations and tests of arguments and hypotheses. And it is remarkably detailed when we come to assess its arguments with respect to those in the literature." --Gordon L. Clark, Transactions of the Institute of British Geographers

"Webber and Rigby's Golden Age of Illusion is an extraordinary achievement and a 'must-read' for every serious student of the global economy. I can think of nothing remotely comparable. It provides a thoroughgoing reinterpretation of world economic trends of the last fifty years that overthrows most of the canon on globalization and the rise and fall of nations.

"This is a huge and difficult book, with a compact and rigorous form of argument that is not for beginners or the scientifically faint of heart. Rarely does a book show a surer grasp of economic theory, world history, and econometric methods all at once. But the patient reader is rewarded by a tour de force through the global economy, one full of surprises and original insights. Webber and Rigby put to flight a host of pieties about free trade, equilibrium, competitive advantage, modes of regulation, and international division of labor means of the rigorous unapologetic application of classical political economy.

"These authors show an admirable capacity to work systematic models through the immense variety of real history while neither abandoning explanation nor dissolving complexity. A coup for economic geography and a challenge to the economists--if they know what hit them." --Richard A. Walker, Ph.D., Professor and Chair, Department of Geography, University of California at Berkeley

"This is a remarkable book. It is a major contribution to the theory of capitalist growth, competition and crisis, and it is a major contribution to the theory of spatial and sectoral uneven development. It is crammed with data, equations and tests of arguments and hypotheses. And it is remarkably detailed when we come to assess its arguments with respect to those in the literature." --Gordon L. Clark, Transactions of the Institute of British Geographers

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