The relevance of Keynes
AbstractThis paper argues that the thinking of John Maynard Keynes remains highly relevant to an understanding of the financial collapse of 2007--8 and for policy measures to enable the world to escape from the 'great recession'. The essay explains the role of uncertainty in Keynes's theory, and the Keynesian case for fiscal and monetary 'stimulus'. It provides a Keynesian perspective on the reform of the world's monetary system, and concludes with reflections on the role of the state and the state of economics. Copyright The Author 2010. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved., Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Cambridge Journal of Economics.
Volume (Year): 35 (2011)
Issue (Month): 1 ()
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- Singh, Ajit, 2011. "The economic and financial crisis of 2008-2010: the international dimension," MPRA Paper 53091, University Library of Munich, Germany.
- Giancarlo Bertocco, 2011. "Housing bubble and economic theory: is mainstream theory able to explain the crisis?," Economics and Quantitative Methods qf1116, Department of Economics, University of Insubria.
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- Carlo Zappia, 2012. "Re-reading Keynes after the crisis: probability and decision," Department of Economics University of Siena 646, Department of Economics, University of Siena.
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