Keynesian Reflections: Effective Demand, Money, Finance, and Policies in the Crisis

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9780198092117: Keynesian Reflections: Effective Demand, Money, Finance, and Policies in the Crisis

The global financial crisis, which began in August 2007 and continues with no end in sight, has thrown macroeconomics into turmoil. This book challenges the current mainstream macroeconomic tradition, rejecting the view that whatever shock hits the economy, the response is an automatic and rapid move towards market equilibrium that pulls the economy out of any kind of difficult situation.

Engaging with the structural problems of our times, especially in the context of the global financial crisis, the essays not just engage with Keynesian economics, but also adapt and go beyond it as per the requirements of present conditions. The essays apply the 'Keynesian spirit' to cover four broad areas: effective demand in the crisis, economic theory in the context of world recession, money and international liquidity, and finance and international economic disorder. Suggesting an alternative future of macroeconomics, this volume inspires and provokes new economic thinking that is needed for the world today.

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About the Author:

Toshiaki Hirai is Professor of Economics, Sophia University, Tokyo.
Maria Cristina Marcuzzo is Professor, Department of Statistical Sciences, Sapienza University of Rome.
Perry Mehrling is Professor of Economics, Barnard College, Columbia University, New York.

"About this title" may belong to another edition of this title.

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Book Description Oxford University Press, 2013. Hardcover. Book Condition: New. Dust Jacket Condition: New. 1st Edition. The global financial crisis, which began in August 2007 and continues with no end in sight, has thrown macroeconomics into turmoil. This volume challenges the current mainstream macroeconomic tradition, rejecting the view that whatever shock hits the economy, the response is an automatic and rapid move towards market equilibrium that pulls the economy out of any kind of diffi cult situation. Bringing together contributors from across the world, the volume untangles varied structural problems of our times as well as debates within the discipline of economics. The essays apply the 'Keynesian spirit' to cover four broad areas: effective demand in the crisis; economic theory in the context of world recession; money and international liquidity; and finance and international economic disorder. The essays not only engage with Keynesian economics, but also adapt and go beyond it, keeping in mind the context of the global financial crisis. Suggesting an alternative future of macroeconomics, the volume inspires and provokes new economic thinking that is needed for the world today. Bookseller Inventory # 112573

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