Economic policy is facing crises on multiple fronts. With the effects of the last financial crisis still with us, it is now faced with the new challenges of post-Covid economic recovery and dealing with the negative effects of over consumption on the climate. This book explores the future of economic policy in relation to what the author sees as the four great policy challenges of the first half of the 21st century: the after effects of the last financial crisis and the catastrophic impact of the Covid pandemic, secular stagnation, growing poverty and inequality, and globalization. The existence of these economic problems has become increasingly relevant since some of the tools available to public action have become useless. As economists begin to suggest new instruments of economic policy, this book will help the reader understand the nature of the economic and political facts that influence both current and future generations.

‘Nicola Acocella is an expert on the theory, history and application of economic policy. In this book he deals with four current issues: Recession; Stagnation; Efficiency-poverty-inequalities; and Globalization. The reader is presented with a thorough analysis of the problems around them and of the challenges they pose for policy makers. I strongly recommend the book for students, lecturers and researchers of applied economics and related policies.'

Grazia Ietto-Gillies - London South Bank University and Birkbeck University of London

‘In this illuminating book Professor Nicola Acocella guides us through a wide-ranging analysis of the economic problems of our time. He argues convincingly that as the number and complexity of these problems have increased, policymakers have become lame-ducks, making it difficult to resolve these problems. A highly recommended book for those eager to understand the nature of the economic challenges we face.'

Paul De Grauwe - London School of Economics