The World Economy in Crisis – The Return of Keynesianism?
- Sebastian Dullien() (University of Applied Sciences, Germany)Eckhard Hein() (Berlin School of Economics and Law, Germany)Till van Treeck() (Macroeconomic Policy Institute (IMK) in the Hans Boeckler Foundation, Germany)Achim Truger() (Macroeconomic Policy Institute (IMK) in the Hans Boeckler Foundation, Germany)Registered editor(s):
The world economy is in crisis. Since the initial turbulences in the U.S. subprime mortgage market in the summer of 2007, we have experienced a global recession in 2008-9 and a wave of financial speculation threatening the existence of the European Monetary Union in 2009-10. At the same time, there has been a remarkable shift in economic policies and economic thinking more broadly. Hardly anyone would doubt today that the Keynesian stimulus packages which were put in place all over the world have so far prevented an even sharper fall in output and increase in unemployment and poverty. Fiscal policy is again considered a powerful tool for macroeconomic stabilisation policies. Similarly, few would now question the necessity of tighter regulation of the financial markets. Central banks around the world have taken ‘unconventional measures’ such as the purchase of asset-backed-securities to stabilise the financial system and the real economy. But the crisis also has more structural roots, amongst which are the massive increases in income and wealth inequalities over the past three decades or so, and the global imbalances in international trade. At this stage, it is still unclear how far policy makers around the world will be able to live up to these challenges. The chapters in this book address these issues from different angles, analysing the underlying structural causes of the crisis, assessing the policy responses to the crisis with a special emphasis on Europe, and making concrete proposals for financial market reforms and a Keynesian New Deal more broadly.
This book is provided by IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute in its series Conference proceedings of the Research Network Macroeconomics and Macroeconomic Policies (FMM) with number 13-2010 and published in 2010. Volume: 13 ISBN: 978-3-89518-806-0 Handle: RePEc:imk:fmmcps:13-2010 Contact details of provider: Postal: Hans-Böckler-Straße 39, 40476 Düsseldorf
Phone: +49 211 7778 234
Fax: +49 211 7778 4234
Web page: http://www.imk-boeckler.de
More information through EDIRC
- Detzer, Daniel & Hein, Eckhard, 2014.
"Finance-dominated capitalism in Germany: Deep recession and quick recovery,"
IPE Working Papers
39/2014, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
- Daniel Detzer & Eckhard Hein, 2014. "Finance-dominated capitalism in Germany – deep recession and quick recovery," Working papers wpaper54, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
- Detzer, Daniel & Hein, Eckhard, 2014. "Financialisation and the financial and economic crises: The case of Germany," IPE Working Papers 44/2014, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
When requesting a correction, please mention this item's handle: RePEc:imk:fmmcps:13-2010. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sabine Nemitz)
If references are entirely missing, you can add them using this form.
Follow series, journals, authors & more
New papers by email
Subscribe to new additions to RePEc
Public profiles for Economics researchers
Various rankings of research in Economics & related fields
Who was a student of whom, using RePEc
Curated articles & papers various economics topics
Blog aggregator for economics research
Cases of plagiarism in Economics
Job Market Papers
RePEc working paper series dedicated to the job market
Pretend you are at the helm of an economics department
Services from the StL Fed
Data, research, apps & more from the St. Louis Fed