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Keynesian Considerations In The Post-Neoliberal Era

Author

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  • Cărămidariu Dan-Adrian

    (West University of Timişoara, Faculty of Economics and Business Administration, Timişoara)

Abstract

Based on the fact that the present financial and economic crisis is at the same time a crisis of contemporary economic thinking, this paper aims to interpret the collapse of mainstream economics from a Keynesian point of view. At the same time, this paper aims to show to which extent Keynesian inspired interventionism can and should be reconsidered. Furthermore, it proposes to establish adequate criteria in order to evaluate correctly a possible Keynesian reversal in economic thinking. In order to achieve these aims, this paper studies the controversies regarding the failure of academic economics and of neoliberalist orthodoxy and the possibility that a new or a newly adapted theory replaces the old one. This paper comes to the conclusion that, according to the evolution in current debates, a Keynesian reversal is possible, but at the present moment not sure.

Suggested Citation

  • Cărămidariu Dan-Adrian, 2012. "Keynesian Considerations In The Post-Neoliberal Era," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 170-174, March.
    • Handle: RePEc:cbu:jrnlec:y:2012:v:1:p:170-174
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    References listed on IDEAS

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    1. D. Colander & H. Follmer & A. Haas & M. Goldberg & K. Juselius & A. Kirman & T. Lux & B. Sloth, 2010. "The Financial Crisis and the Systemic Failure of Academic Economics," Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 6.
    2. Alan Kirman, 2010. "The Economic Crisis is a Crisis for Economic Theory ," CESifo Economic Studies, CESifo, vol. 56(4), pages 498-535, December.
    3. Johnson, Harry G, 1971. "The Keynesian Revolution and the Monetarist Counter-Revolution," American Economic Review, American Economic Association, vol. 61(2), pages 1-14, May.
    4. James Galbraith, 2009. "Inequality, unemployment and growth: New measures for old controversies," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 7(2), pages 189-206, June.
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