The Road to Recovery:
How and Why Economic Policy Must Change
Andrew Smithers
Published September 2013, by Wiley £18.99
Hardback and e-book
The last financial crisis, like those which followed the 1929 crash in
the US and 1989 crash in Japan, was caused by excess debt, with the
trigger provided by falling real asset prices (shares and property). In The
Road to Recovery: How and Why Economic Policy Must Change,
author and renowned economist, Andrew Smithers explains the practical
steps which need to be taken, and the revisions to economic theory which
must be understood and broadly accepted for practice to improve.
The Road to Recovery explores key practical issues to
prevent a repetition of the crisis including: How to reduce debt for
governments, households and business; How to change management
incentives which are currently inimical to economic growth; and How to
rebalance economies, both internally and with regard to their external
balances.
Smithers looks at how, for policy to be consistent and successful in
practice, the errors of economic understanding that caused the past
policy mistakes must be recognised. The author explains the direction in
which these changes are likely to go and the progress that is already
being made in what is, of course, a never-ending process.
The book also discusses how progress towards better policies requires
better understanding of economics, but that this must not be limited to
professional economists. In democracies, Smithers believes that progress
towards better policy must be based on a broad understanding of the
issues among voters.
The Road to Recovery: How and Why Economic Policy Must Change will
be available where books and e-books are sold.
Notes to editors:
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Review copies and jacket images are available on request
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