The aging of the US population will be a primary domestic public policy issue during the next decades. According to Census Bureau projections, the proportion of the elderly in the total population will increase while the proportion of working-age population is projected to decline. These demographic changes imply a significant growth in the number beneficiaries in major federal entitlement programs. Existing program rules and rapidly escalating health care costs are expected to lead to fiscal pressures and pose challenges for economic growth.

This volume articulates a state of shock and concern with the unbridled pace of speculative finance in the global economy. Challenging the conventional wisdom of market efficiency in the context of today’s ‘high finance’, the volume points at its limits in terms of generating real growth and development. Removed from the real sphere of production and employment, the high-risk high return portfolios of the financiers fail to achieve even the short-term target of an effective buffer against uncertainty.

The central argument of this book is that the foundations for sustainable prosperity lie in an approach to economic management based on modern monetary theory and a job guarantee. This approach builds on the work of Keynes, Kalecki, Minsky, Davidson, Godley and other Post- Keynesian economists―as well as research by behavioral economists including Simon, Kahneman and Loewenstein―to explore the role that a permanent, equitable job guarantee could play in building an inclusive, participatory and just society. Orthodox (neoclassical) economics, in its various forms, has failed to deliver sustainable prosperity.

Bringing together theoretical and empirical studies from the Journal of Information Technology, this book provides a definitive guide to research discovered on the growing global sourcing phenomenon.