Recessions Are Totally Man Made

A. Coskun Samli

Chapter Chapter 7 in From a Market Economy to a Finance Economy, 2013, pp 97-113 from Palgrave Macmillan

Abstract: Abstract Despite the accumulated knowledge about our economy, we have not quite learned what needs to be done if and when a recession takes place. Recessions have a strong impact on the existing economic status, but their negative impacts are not articulated and not counteracting them is carefully analyzed and practiced. Recessions are very costly and disruptive; however, instead of developing rational and objective orientation toward counteracting them and indeed even stopping them before they materialize, there have been tendencies to treat them as almost natural phenomena and explaining them with political and financial doctrines. This situation does not contribute to the well-being of the poor, the elderly, and small businesses but does have certain powerful, questionable, but beneficial impact on the 1 percent rather than the remaining 99 percent as the current literature and politicians describe the very alarming current income dichotomy in our society.

Keywords: Monetary Policy; Market Economy; Fiscal Policy; Finance Economy; Cost Cutting (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-32298-2_8

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DOI: 10.1057/9781137322982_8

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