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Evolution without fundamental change: the Washington Consensus on economic development

In: Financial Instability and Economic Security after the Great Recession

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  • John Marangos
  • Charles J. Whalen

Abstract

This timely book rethinks economic theory and policy by addressing the problem of economic instability and the need to secure broadly shared prosperity. It stresses that advancing economics in the wake of the Great Recession requires an evolutionary standpoint, greater attention to uncertainty and expectations, and the integration of finance into macroeconomics. The result is a broader array of policy options – and challenges – than conventional economics presents.

Suggested Citation

  • John Marangos & Charles J. Whalen, 2011. "Evolution without fundamental change: the Washington Consensus on economic development," Chapters, in: Charles J. Whalen (ed.), Financial Instability and Economic Security after the Great Recession, chapter 8, pages 153-178, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:14489_8
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    File URL: https://www.elgaronline.com/view/9780857934833.00019.xml
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    References listed on IDEAS

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    12. David Zalewski & Charles Whalen, 2010. "Financialization and Income Inequality: A Post Keynesian Institutionalist Analysis," Journal of Economic Issues, Taylor & Francis Journals, vol. 44(3), pages 757-777.
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    14. Christopher Brown, 2008. "Inequality, Consumer Credit and the Saving Puzzle," Books, Edward Elgar Publishing, number 12877, November.
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    16. -, 2003. "Capital flows to Latin America: second quarter 2002," Oficina de la CEPAL en Washington (Estudios e Investigaciones) 28812, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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    18. -, 2003. "Capital flows to Latin America: second quarter 2003," Oficina de la CEPAL en Washington (Estudios e Investigaciones) 28823, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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    20. John Marangos, 2003. "Price liberalization, monetary, and fiscal policies for transition economies: a Post Keynesian perspective," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 25(3), pages 449-469.
    21. -, 2003. "Capital flows to Latin America: fourth quarter 2002," Oficina de la CEPAL en Washington (Estudios e Investigaciones) 28814, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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    Cited by:

    1. Charles J. Whalen, 2013. "Post-Keynesian Institutionalism after the Great Recession," European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 10(1), pages 12-27.

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