Inflation, Unemployment, and Government Deficits: End Them

An economist's readable explanation of America's economic malaise and how to quickly end it

By: John Lindauer's Students

Narrated by: Virtual Voice

This is a professional economist's explanation of how the United States' economy went wrong as the result of inappropriate federal fiscal polices and regulations and inappropriate and unworkable Federal Reserve monetary policies. More importantly, it explains how the United States can be quickly restored to full employment and stable prices (and higher profits and tax collections) without additional federal regulations or government spending. Professor Lindauer's former graduate students clubbed together to publish it because most of today's "economists" are stuck in an intellectual time lag and pursuing monetary and fiscal policies based on theories from the 1930s and the early postwar era. Such time lags are not new in the academic world - the theories and policies suggested by Smith 250 years ago and Keynes 80 years ago had the same initial lack of recognition and people continued to unnecessarily suffer until their theories and policies were finally understood and adopted. This material is presented by Professor Lindauer's former graduate students because people, politicians, and Federal Reserve governors, and those who allegedly recognize new economic theories and ideas, have been badly misled by professional economists clinging to old theories and ideas and by the writings of journalists who never studied economics and tend to consult the all to often faux economists" working for the PR departments of large financial institutions who merely repeat the prevailing and inaccurate common knowledge of the day. The impact of the resulting inadequate policies have been horrific: massive unemployment, bankruptcies, foreclosures, business failures, low rates of growth, and low tax collections that have resulted in unnecessary deficits and the curtailment of valuable programs. More specifically, this book uses the theories and insights Lindauer added to post-Keynesian economics to explain how and why the United States "Great Recession" began in 2008 and morphed into a permanent depression - as a result of counterproductive regulations and the Federal Reserve pursuing naive and inapplicable monetary policies. It is meant to be a readable everyman's edition of Professor Lindauer's epic and complex "The General Theories of Inflation,Unemployment, and Government Deficits." It is easily readable because it explains the theories rather presenting them with the usual equations, graphs, and economic-speak that appear in books by professional economists written for other professional economists. (eg. Lindauer's General Theories which Those who read it will know much more about the real causes and significance of such things as unemployment, inflation, deficits, and the national debt than just about anyone else including, most certainly, the "faux economists" who appear on talk shows, congressmen, and journalists. Professor Lindauer's books for his fellow professional economists have been translated into Spanish, Chinese, Japanese, Korean, and Portuguese and used widely in universities around the world. Importantly, he is one of the few trained macroeconomists with real world business experience - as the builder and CEO of a chain of newspapers and radio stations, the board member of a major non-profit, and as a member of a venture capital company. In a word, he is rare in that he knows which macroeconomic policies count and which do not and why. This work is an "everyman's" edition from the notes of Professor Lindauer's grateful graduate students. More advanced discussions of the material can be found in the author's various editions of "Macroecomics" for university students and "The General Theories of Inflation, Unemployment, and Government Deficits" which was written for professional economists. What is important and can be done to set things right will surprise you because it is not what most people think or most economists say or most journalists write. Send comments to [e-mail]