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Post-Keynesian Views of the Crisis and its Remedies

Post-Keynesian Views of the Crisis and its Remedies

Paperback

Series: Routledge Critical Studies in Finance and Stability

AccountingEconomicsSocial Movements

ISBN10: 1138902063
ISBN13: 9781138902060
Publisher: Routledge
Published: Mar 4 2015
Pages: 308
Weight: 0.99
Height: 0.67 Width: 6.14 Depth: 9.21
Language: English

At the end of the 20th century, mainstream economics was based on theories which viewed capitalism as a self-regulating system, whereby crises come about due to external shocks and would be automatically corrected by the price mechanism if it was flexible enough. Post-Keynesian economists, however, consider that the business cycle and the crises are endogenously generated. They recommend active policies as a response, though the remedies may be worse than the illness if they are not applied at the right moment and in the right proportions.

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