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

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

by Toshiaki Hirai
     
 

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

Overview

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.

Product Details

ISBN-13:
9780198092117
Publisher:
Oxford University Press
Publication date:
05/05/2013
Pages:
352
Product dimensions:
5.80(w) x 8.60(h) x 1.20(d)

Meet 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.

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