Economy
Seyed Hossein Mirjalili
Abstract
Understanding the logic behind the success and failure in economic growth, and institutional and global arrangements is the subject of this book. Identifying growth’s binding constraints and the need for finding solutions for development issues according to the circumstances of countries is an ...
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Understanding the logic behind the success and failure in economic growth, and institutional and global arrangements is the subject of this book. Identifying growth’s binding constraints and the need for finding solutions for development issues according to the circumstances of countries is an alternative approach to this book on development. This paper aims at evaluating “One Economics, Many Recipe” in presenting an initiative for economic growth and development. Analytical-descriptive method is used in reviewing the book and conducting methodological assessment. The results indicated the advantages and challenges of the arguments put forwarded by the book. Among the advantages is the consideration of each country's circumstances in growth policy, the lack of one size fits all for economic policies for development, challenging the universalism of neoclassical teachings, the distinction between ignition of growth and its sustainability, and questioning of the exaggerating in the benefits of trade liberalization. Among the challenges are using the prescription on the title of the translated book, problems in implementing the growth diagnostic method, utilizing qualitative methods instead of quantitative in growth diagnosis in practice, neglecting policies and measures for the second stage in growth sustainability, and methodological assessment of growth diagnosis.
Economy
Seyed Hossein Mirjalili
Abstract
In this paper, the book entitled “Freefall; America, Free Markets and the Sinking of the World Economy” is reviewed which is about the causes of the financial crisis of 2007-2009 in the US economy. The author is a world-renowned economist and the book has been translated into more than 20 ...
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In this paper, the book entitled “Freefall; America, Free Markets and the Sinking of the World Economy” is reviewed which is about the causes of the financial crisis of 2007-2009 in the US economy. The author is a world-renowned economist and the book has been translated into more than 20 languages. In this review, for collecting information, the books and articles are used as scientific documents, and for analyzing information, the descriptive-comparative method was applied. The book has a logical consistency. It begins with the origins of the crisis, and then discusses the consequences, policies, motivations, and necessary reforms in the economy and the attitude of American society. The shortcomings of the translated book, in addition to typographical errors and the need to revise some jargons, are the lack of translation of the footnotes of the chapters, which make up 73 pages of the translated book. Despite the relative coherence of the work, the translated book suffers from the exclusion of America from the title of the book, despite the fact that the whole book is about the American economy. The hopeful statements appeared at end of the book without providing a solution, and lack of analysis for the effects of Reagan economics as a background of the financial crisis, and also the neglect of systemic risk. The book highlights the adverse effects of materialism, extremist individualism, and market fundamentalism on American society. It also explains the neoclassical foundations of policies that led to the financial crisis and the battle of ideas in economics.
