The Global Crisis Makers » (REV)

Graeme Donald Snooks is Coghlan Professor in Economics, Institute of Advance Studies, Australian National University.

The author argues that we should not be diverted by the East Asian 'meltdown', which is a predictable outcome of global dynamics. Of real concern, however, is the 'hidden crisis', which has been inadvertently engineered by neoliberal economists who dominate the world's financial institutions. They are the global crisis makers, who have convinced governments to abandon strategic leadership and to impose crippling deflationary policies. By employing the innovative theoretical empirical work published in his recent series of remarkable books, Graeme Snooks shows how this threat to progress and liberty can be overcome.

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Forget the so-called East Asian meltdown, warns Snooks (economics, Australian National U.-Canberra). People's main concern should be the hidden crisis engineered by neoliberal economists who have convinced governments to abandon strategic leadership and to impose crippling deflationary policies. He argues that the trends endanger progress by slowing economic growth, and endanger liberty by causing the frustrated strategists to turn increasingly to the radical right. He draws on the theoretical and empirical approaches he has used before to show the way out of the trap. Annotation c. Book News, Inc., Portland, OR (booknews.com)