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Books > Business & Economics > Economics > Macroeconomics
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The Global Crisis of 2008 and Keynes's General Theory (Paperback, 2015 ed.)
Loot Price: R1,791
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The Global Crisis of 2008 and Keynes's General Theory (Paperback, 2015 ed.)
Series: SpringerBriefs in Economics
Expected to ship within 10 - 15 working days
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This book describes the international context and some of the
factors that have weakened the influence of Keynesian economic
thought. It illustrates economic responses offered by the new
Keynesian school and the alternative perspective on the global
crisis presented by the monetary circuit theory, with a special
emphasis on Minsky's financial instability hypothesis. The authors
present a commentary on Keynes's General Theory with an emphasis on
his theory of the scarcity of capital, his analysis of the change
in the structure of costs, and straightforward recommendation for a
policy marked by very low interest, which he felt was needed to
maintain full employment. Additionally, the book discusses major
changes in the cost structure of globally active companies,
resulting from the extremely intense international capital flows
over the last three decades. The authors point out the need to
redefine the open economy macroeconomics model, switching it from a
world consisting of two major developed open economies to one
consisting of two major open economies, one of which is developed
and the other is developing.
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