From Meso to Macroeconomics
By Stuart Holland
The Global Market Economy considers the macroeconomic implications of mesoeconomic power. The global reach of multinational companies has transformed Ricardo’s model of international trade, Multinationals comprise Keynesian demand-management policies, erode export competitiveness in the US and UK, diminish tax revenues through transfer pricing, and reduce the effectiveness of monetary policy.
The author shows how public spending sustains rather than drains the private sector, and demonstrates that structural crisis in the global economy has been aggravated by multinational money markets and deflationary monetarist policies.