Books by Stephen A. Marglin

Keynes's General Theory has been misunderstood as relying on frictions to justify the need for the visible hand of government to complement the invisible hand of the market. Fleshing out the GT with tools not available to Keynes, Marglin exposes the fundamental failure of markets to self-regulate and draws lessons for fiscal and monetary policies.

What determines the rate of growth, the distribution of income, and the structure of relative prices under capitalism? What, in short, makes capitalist economies tick? This watershed treatise analyzes the answers to these questions provided by three major theoretical traditions: neoclassical, neo-Marxian, and neo-Keynesian.

Insurance may be an efficient way of organizing resources, but the deep social and human ties that constitute community are weakened by the shift from reciprocity to market relations. This book dissects the ways in which foundational assumptions of economics justify a world in which social connections are impoverished.

This study seeks to understand the rise and fall of the "golden age" of monetarist capitalism enjoyed by Western countries from the end of World War II until the 1960s. Blending historical analysis with economic theory, it questions the basis of present policy-making and provides policy proposals.