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What remains of the theory of demand management in a globalising world?

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  • Amit Bhaduri

Abstract

This article explains a curious redirection of economic policies that uses the policy framework of Kalecki and Keynes only to undermine it. It does not negate their theory of demand management, but reformulates it to serve the powerful interests of finance in the era of financial globalisation. As a result, accountability to finance rather than to the citizens becomes more important for democratic governments, and credit rating dominates democratic performance. 1

Suggested Citation

  • Amit Bhaduri, 2014. "What remains of the theory of demand management in a globalising world?," The Economic and Labour Relations Review, , vol. 25(3), pages 389-396, September.
    • Handle: RePEc:sae:ecolab:v:25:y:2014:i:3:p:389-396
    DOI: 10.1177/1035304614537186
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    References listed on IDEAS

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    1. Keynes,John Maynard, 2012. "The Collected Writings of John Maynard Keynes," Cambridge Books, Cambridge University Press, number 9781107658066 edited by Johnson,Elizabeth & Moggridge,Donald.
    2. Deepak Nayyar, 2006. "Globalisation, history and development: a tale of two centuries," Cambridge Journal of Economics, Oxford University Press, vol. 30(1), pages 137-159, January.
    3. Haavelmo, Trygve, 1997. "Econometrics and the Welfare State," American Economic Review, American Economic Association, vol. 87(6), pages 13-15, December.
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    Cited by:

    1. Kalim SIDDIQUI, 2017. "Globalisation, trade liberalisation and economic development in the developing countries: An overview," Journal of Economics Library, KSP Journals, vol. 4(4), pages 514-529, December.

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    More about this item

    Keywords

    Income distribution;

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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