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The relevance of keynes in the context of actual financial collapse

Author

Listed:
  • Viorica STAN

    (UNIVERSITATEA ”PETRE ANDREI” DIN IASI)

Abstract

This 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.

Suggested Citation

  • Viorica STAN, 2012. "The relevance of keynes in the context of actual financial collapse," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 666-669, May.
    • Handle: RePEc:tdt:annals:v:xviii:y:2012:p:666-669
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    File URL: http://fse.tibiscus.ro/anale/Lucrari2012/kssue2012_107.pdf
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    More about this item

    Keywords

    financial crisis; monetary policy; fiscal policy; uncertainty; keynesism;
    All these keywords.

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General
    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists

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