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Post-Macroeconomics: Lessons From The Crisis And Strategic Directions Ahead

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  • CÉLESTIN MONGA

    (World Bank, 1818 H street, NW Washington DC, 20433, USA)

Abstract

The global crisis has not invalidated everything about macroeconomics. However, it has highlighted some of mistakes of the discipline's dominant intellectual framework. Post-macroeconomic thinking recommended in this paper should not be understood as anothermetanarrativeof the end ofmetanarratives. The use of the prefixposthere suggests and emphasises much more than temporal posterity. Post-macroeconomics should followfrommacroeconomics more than it followsaftermacroeconomics. The theorising of post-macroeconomics is therefore neither systematically oppositional, nor hegemonic. It does not advocate a "dialectic opposition" between macroeconomics and post-macroeconomics. Rather, it suggests that the latter builds on the former and goes beyond it.

Suggested Citation

  • Célestin Monga, 2011. "Post-Macroeconomics: Lessons From The Crisis And Strategic Directions Ahead," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 2(02), pages 277-304.
    • Handle: RePEc:wsi:jicepx:v:02:y:2011:i:02:n:s1793993311000312
    DOI: 10.1142/S1793993311000312
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    References listed on IDEAS

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    1. Francesco Giavazzi & Marco Pagano, 1990. "Can Severe Fiscal Contractions Be Expansionary? Tales of Two Small European Countries," NBER Chapters, in: NBER Macroeconomics Annual 1990, Volume 5, pages 75-122, National Bureau of Economic Research, Inc.
    2. George A. Akerlof, 2009. "How Human Psychology Drives the Economy and Why It Matters," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(5), pages 1175-1175.
    3. Alex Cukierman, 1992. "Central Bank Strategy, Credibility, and Independence: Theory and Evidence," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262031981, December.
    4. Perotti, Roberto, 2007. "Fiscal policy in developing countries : a framework and some questions," Policy Research Working Paper Series 4365, The World Bank.
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    Cited by:

    1. Monga Célestin, 2017. "Working Paper 261 - Post-Macroeconomics: Some Theoretical and Analytical Issues," Working Paper Series 2372, African Development Bank.
    2. Monga, Celestin, 2013. "The mechanics of job creation : seizing the new dividends of globalization," Policy Research Working Paper Series 6661, The World Bank.

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