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2008 Avro Krizine Post-Keynesyen Bir Bakış

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  • Ferda DÖNMEZ ATBAŞI

Abstract

This article evaluates the dynamics behind the contagion of 2007 US Subprime crisis to the European Monetary Union from a Post-Keynesian view. In doing that, it focuses on the peculiarities of the union regarding its structural difference from the USA, the fragility of the European financial architecture and the trade pattern. Rather than traditional orthodox arguments of inefficient governance, public extravagance or rigidities in the labor market, it elaborates on the dual character and hegemonic production relations of core and periphery within the union. Emergence of financial privatized Keynesianism, neomercantilism and internal devaluation are its basic focal points.

Suggested Citation

  • Ferda DÖNMEZ ATBAŞI, 2014. "2008 Avro Krizine Post-Keynesyen Bir Bakış," Sosyoekonomi Journal, Sosyoekonomi Society, issue 22(22).
    • Handle: RePEc:sos:sosjrn:140219
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    More about this item

    Keywords

    Euro Crisis; Financialization; Neomercantilism; Privatized Keynesianism; Internal Devaluation.;
    All these keywords.

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • F16 - International Economics - - Trade - - - Trade and Labor Market Interactions
    • G01 - Financial Economics - - General - - - Financial Crises
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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