The Keynesian Approach of Business Cycle and Economic Crises and its Criticism

Ionela Bălţătescu

Revista de Economie Mondiala / The Journal of Global Economics, 2009, vol. 1, issue 4

Abstract: The main purpose of this article is to briefly present the Keynesian explanation of business cycle, economic fluctuation and crises, and also the solutions proposed from Keynesian perspective to the economic problems that characterize the bust phases of the business cycles (unemployment, recessions). In the fourth section of the article some criticisms of the Keynesian theoretical approach of the economic crises are considered and summarized.

Keywords: economic crises; Keynes; liquidity preference; unemployment; under-consumption; fiscal and monetary policy (search for similar items in EconPapers)
JEL-codes: E12 E21 E24 E31 E32 E60 (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:iem:journl:v:1:y:2009:i:4:id:2822000008754035

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