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Post Keynesian Theory and Policy : A Realistic Analysis of the Market Oriented Capitalist Economy

Post Keynesian Theory and Policy : A Realistic Analysis of the Market Oriented Capitalist Economy - image 1 of 1

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Arguing that the economic theory dominating academic teaching in the last forty years has not been applicable to the economic system, the author shows how post-Keynesian economic theory can apply to the real world and address problems with current theory by legislating regulatory rules on financial markets and having central banks ready to alleviate a financial liquidity crisis if it occurs. He explains the flaws in classical theory; its axioms and relationship to unemployment; the role of money and money contracts and savings and liquidity; why mainstream Keynesian theory is not Keynes' theory; the need to create full employment policies; why the neutral money theory analysis of inflation or deflation is not applicable to the current economy; securitization, liquidity, and market failure, with discussion of the 2008 financial crisis; and globalization, international trade, and international payments. Annotation ©2015 Ringgold, Inc., Portland, OR (protoview.com)
Number of Pages: 154
Genre: Business + Money Management
Sub-Genre: Economics / Macroeconomics, Economics / Theory, Economic Conditions
Series Title: New Directions in Post-keynesian Economics
Format: Hardcover
Publisher: Edward Elgar Pub
Author: Paul Davidson
Language: English
Street Date: October 28, 2015
TCIN: 50113643
UPC: 9781784718244
Item Number (DPCI): 248-00-8184
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