The relevance of keynes in the context of actual financial collapse

Viorica Stan ()
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Viorica Stan: UNIVERSITATEA ”PETRE ANDREI” DIN IASI

Anale. Seria Stiinte Economice. Timisoara, 2012, vol. XVIII, 666-669

Abstract: This paper argues that the thinking of John Maynard Keynes remains highly relevant to an understanding of the financial collapse of 2007–8 and for policy measures to enable the world to escape from the ‘great recession’. The essay explains the role of uncertainty in Keynes’s theory, and the Keynesian case for fiscal and monetary ‘stimulus’. It provides a Keynesian perspective on the reform of the world’s monetary system, and concludes with reflections on the role of the state and the state of economics.

Keywords: financial crisis; monetary policy; fiscal policy; uncertainty; keynesism (search for similar items in EconPapers)
JEL-codes: A10 A11 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:tdt:annals:v:xviii:y:2012:p:666-669

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