Outlook on the Transformation of the Market Economy and Its Stabilization

Ralf Pauly ()
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Ralf Pauly: Osnabrück University

Chapter Chapter 4 in Economic Instability and Stabilization Policy, 2021, pp 141-208 from Springer

Abstract: Abstract Central banks remain the main players. Without a viable concept, they must intervene in the financial market in a variety of ways, with uncertain outcomes. Their actions are aimed at assuming economic risks from the private sector, encouraging the flow of profits and safeguarding wealth. Their interventions benefit the richer, the profit takers and the owners. They thus promote inequality. The capitalist market economy shows significant weakness. The state can only worsen the situation with its traditional stabilization policy. It must change its politics and find a new orientation.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-658-33626-4_4

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DOI: 10.1007/978-3-658-33626-4_4

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