A comment on the European Central Bank solution vs. the Keynes solution

Pablo Schiaffino

Journal of Post Keynesian Economics, 2013, vol. 35, issue 3, 457-462

Abstract: In this paper, I discuss something obvious, and to show something obvious—at least in this case—there is no need to apply sophisticated theoretical models or fancy empirical techniques. I argue that the actual European Central Bank solution for the European countries in crisis is very far from what I call—paraphrasing Davidson—the Keynes solution. This crucial difference between the two solutions does not imply opposite ideological policies, but a severe problem that leads to a more profound crisis based on a deflation-debt problem and long-term unemployment.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:mes:postke:v:35:y:2013:i:3:p:457-462

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DOI: 10.2753/PKE0160-3477350307

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