The 21st Century Case for a Managed Economy
The Role of Disequilibrium, Feedback Loops and Scientific Method in Post-crash Economics

Argues that the scientific concept of feedback - the idea that change in some element of a system can cause further change in that element - represents a general concept of economic change.

This leads us back to the common-sense idea of a mixed economic system in which the role of the state is almost as great as that of the market.

About the Author Acknowledgements Preface Part One: Foundations 1. Introduction: Disequilibrium and the Logic of Feedback 2. From the Old to the New Part Two: Feedback in Action 3. The Business Cycle: How Feedback Drives Economic Volatility 4. Depression and Hyperinflation: Extreme Examples of Feedback 5. Two Modern Crises as Feedback Loops Part Three: Policy 6. Counter-Cyclical Policy 7. The Limitations of Counter-Cyclical Policy 8. Counter-Cyclical Policy in a Globalised World 9. Harmful Effects of Counter-Cyclical Policy 10 Growth and Inequality as Feedback Processes 11. Conclusion: The Need for Change References Index