L. Randall Wray

Martin Watts

Mitchell, William

Macroeconomics

William Mitchell

This groundbreaking new core textbook encourages students to take a more critical approach to the prevalent assumptions around the subject of macroeconomics, by comparing and contrasting heterodox and orthodox approaches to theory and policy. The first such textbook to develop a heterodox model from the ground up, it is based on the principles of Modern Monetary Theory (MMT) as derived from the theories of Keynes, Kalecki, Veblen, Marx, and Minsky, amongst others. The internationally-respected author team offer appropriate fiscal and monetary policy recommendations, explaining how the poor economic performance of most of the wealthy capitalist countries over recent decades could have been avoided, and delivering a well-reasoned practical and philosophical argument for the heterodox MMT approach being advocated. The book is suitable for both introductory and intermediate courses, offering a thorough overview of the basics and valuable historical context, while covering everything needed for more advanced courses. Issues are explained conceptually, with the more technical, mathematical material in chapter appendices, offering greater flexibility of use. Accompanying online resources for this title can be found at bloomsburyonlineresources.com/mitchell-macroeconomics. These resources are designed to support teaching and learning when using this textbook and are available at no extra cost.

For thousands of years British fields were ploughed not by horses but by oxen, usually working in teams of two or four, noted for their strength, docility and economy. This is a survey of their use in Britain, their impact upon the countryside, and the relics that can still be found: yokes, bows, shoes, housing and place-names. Martin Watts is curator of the Ryedale Folk Museum in North Yorkshire.

Working Oxen

Corn milling, the reduction of hard cereal grains to form a usable foodstuff, is one of the oldest and most necessary crafts. While windmills and watermills are given deserved notice, the milling process and the modern development of the industry are usually taken for granted. The history of milling is exceptional in the necessity of the process and its continuing importance, and its unique buildings and machines, which had a marked effect on contemporary technology. With increased interest in wholesome foods, energy conservation and the preservation of technological history, the milling industry is in a unique position, with both traditional and modern mills presenting a working picture of the industry.

Martin Watts

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