Creative Destruction or Regressive Stagnation? Comments on Davidson and Galbraith

Jonathan Michie

Chapter 9 in The Relevance of Keynesian Economic Policies Today, 1997, pp 154-162 from Palgrave Macmillan

Abstract: Abstract In considering the relevance of Keynesian economics in the late twentieth century, there are two questions to be asked: first, to what extent do (what might be termed) ‘Keynes’s insights’ help in analysing the world today; and second, to what extent does the integration of national economies, and what has come to be described generally as the ‘globalisation’ of the world economy, affect the implementation and efficacy of Keynesian economic policies? The chapters by Galbraith and Davidson tackle these two questions: James Galbraith considers the relevance of Keynesian concepts in analysing the global economy of today, and Paul Davidson discusses Keynesian policies given the changes in the world economy.

Keywords: Monetary Policy; Full Employment; Creative Destruction; Bretton Wood System; Deficit Country (search for similar items in EconPapers)
Date: 1997
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-25425-5_9

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DOI: 10.1007/978-1-349-25425-5_9

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