Post-Keynesian Views of the Crisis and its Remedies

Herausgeber: Dejuán, Óscar; Uxo Gonzalez, Jorge; Febrero Paños, Eladio

• Broschiertes Buch

Produktbeschreibung

At the end of the 20th century, mainstream economics was based on theories which viewed capitalism as a self-regulating system, whereby crises come about due to external shocks and would be automatically corrected by the price mechanism if it was flexible enough. Post-Keynesian economists, however, consider that the business cycle and the crises are endogenously generated. They recommend active policies as a response, though the remedies may be worse than the illness if they are not applied at the right moment and in the right proportions. The first great recession of the 21st century offers post-Keynesian economists an opportunity to prove the realism of their models. It is also a chance to make theoretical improvements, to abandon some hypotheses and to introduce new ones. This book, from a top group of international economists, analyzes the causes, consequences and evolution of the crisis from a variety of post-Keynesian perspectives. It then presents a case for realistic and essential remedies. The book is both theoretical and applied, with a global reach and a particular focus on the European debt crisis.

---

Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.

Produktdetails

• Verlag: Routledge
• Seitenzahl: 320
• Erscheinungstermin: 4. März 2015
• Englisch
• Abmessung: 234mm x 156mm x 17mm
• Gewicht: 488g
• ISBN-13: 9781138902060
• ISBN-10: 1138902063
• Artikelnr.: 41852320

Autorenporträt

Óscar Dejuán is Professor of Economics and Head of the Department of Economics and Finance at University of Castilla-La Mancha, Spain Eladio Febrero is a lecturer at University of Castilla-La Mancha, Spain Jorge Uxó is a lecturer at University of Castilla-La Mancha, Spain

Inhaltsangabe

Introduction Óscar Dejuán, Eladio Febrero and Jorge Ux Part I. The
financial side: the burden of debt and the loss of confidence 1.
Finance-dominated capitalism, re-distribution and the financial and
economic crises - a European perspective Eckhard Hein 2. The world in
balance sheet recession: causes, cures and politics Richard C. Koo 3. The
failure of the new macroeconomic consensus: from non-ergodicity to the
efficient markets hypothesis and back again Nigel F.B. Allington, John S.L.
McCombie and Maureen Pike 4. The debt trap Óscar Dejuán II. The balance of
payments constraint. Trade deficits as a source of risky debt 5.
Controversial and novel features of the Eurozone crisis as a balance of
payment crisis Sergio Cesaratto 6. Unhappy families are all alike: Minskyan
cycles, Kaldorian growth, and the Eurozone peripheral crises Alberto Bagnai
7. The adjustment of current account imbalances within the European
Monetary Union since the beginning of the Great Recession: some strengths
and many weaknesses Jesús Paúl and Jorge Uxó 8. The effects of the great
recession of 2008 on the neo-Keynesian development experiences: the cases
of Argentina and Brazil Fabián Amico and Alejandro Fiorito III. The real
side of the economy: the problem of effective demand and the failure of
austerity policies 9. Net private savings in relation to the government's
financial balance: some basic principles of macroeconomics disregarded by
the European Union's economic policy makers Kazimierz Laski and Leon
Podkaminer 10. Business Investment, Growth and Crisis Ana-Rosa González,
Philip Arestis and Óscar Dejuán 11. Does the Effectiveness of Fiscal
Stimulus Depend on Economic Context? Steven Fazzari 12. Spain during the
Great Recession. Teetering on the brink of collapse Eladio Febrero and
Fernando Bermejo