The Cost of Living Crisis

Implications for Economic Theory and Public Policy

By: Imad A. Moosa

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Hardcover | 19 November 2024

At a Glance

Hardcover
240 Pages

Dimensions(cm)
23.4 x 15.6

Hardcover

$241.95

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This informative book deconstructs two key myths in economic theory and policy: that inflation is always a monetary problem, and that inflation can be contained by raising interest rates. Imad A. Moosa identifies many of the causes of the cost of living crisis, and proposes policy reforms to alleviate its effects.

The Cost of Living Crisis uses historical and simulated data to contest the proposition that inflation can be constrained solely through monetary policy, and nine potential causes of resurgent inflation are identified, analysed and systematically evaluated. Moosa refutes claims made by central bankers and politicians about their ability to control inflation and recommends the reconsideration of neoliberalism, the implementation of minimum wages, the utilisation of consumer protection and the rethinking of tax codes, foreign policy and militarism. Ultimately, Moosa argues that any action taken to deal with the cost of living crisis should protect the wellbeing of the majority, rather than the interests of major corporations.

The Cost of Living Crisis is a thought-provoking read for academics and students of financial economics, regulation, public finance, sociology and economic sociology. Written in an engaging and accessible style, this book is also of interest to policymakers and politicians engaged in international financial regulation during highly turbulent times.

Industry Reviews

'Professor Moosa's The Cost of Living Crisis is in his tradition of intellectual excellence. It is invaluable for workers and businesses experiencing falling incomes and sales, respectively, neoliberal governments losing the economic race to China, and economists seeking a better explanation of the causes of stagflation. He anticipates a deepening crisis and offers vital solutions.' -- Basil Al-Nakeeb
'Similarly to his previous works on universities and financial intermediation, Moosa turns his attention to the cost of living-one of the most pressing post-COVID global issues. Once again, he clearly demonstrates his outstanding capacity to cut through the usual nonsense and deliver a fearless and frank assessment of the symptoms and possible solutions.' -- Liam Lenten, University of Melbourne, Australia

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