KEYNEZIAN THEORY AS AN UNAVOIDABLE INSTRUMENT IN THE STRUGGLE AGAINST ECONOMIC CRISES

Ivan B. Jelena B. Bozoviæ, Bozoviæ
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Ivan B. Jelena B. Bozoviæ, Bozoviæ: University of Priština, Faculty of Economics, University of Priština, Faculty of Economics

No 2014-03, Ekonomika, Journal for Economic Theory and Practice and Social Issues from „Ekonomika“ Society of Economists, Niš (Serbia)

Abstract: Economic recession which nowadays has affected economies in the majority of countries, starting with the most developed ones, whilst other countries record negative economic performance in the form of a more significant slowing down of economic growth, raised the question of its overcoming, both among the economic policy creators and among macroeconomic theoreticians. Economic policy measures, which should contribute to the finalization of negative economic movements and reverse them, are primarily oriented towards encouragement of aggregate demand, and in macroeconomics they are known as Keynesian economics. It is quite certain that the causes, and even more the consequences, of incidence and overcoming of economic crisis in the world will always remain to be the main topic of discussion among the entire community, and particularly among academic community. It happens very frequently that economists identify mortgage loans crises as the main nucleus of creating the economic crises, failing thereby almost every time to point out to the dark side i.e. the immoral side of the banks and other financial institutions responsible for granting bad loans. The intention of this paper is to point to the main causes of incidence and spreading of world economic crises. The paper also points towards a very important role and significance of the Keynesian economic theory in overcoming the consequences of such crises and struggle against economic depression.

Keywords: economic crisis; neo-liberalism; interventionism; Keynesian theory; economic recovery (search for similar items in EconPapers)
JEL-codes: E12 E13 E2 E44 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2014-10
New Economics Papers: this item is included in nep-hpe, nep-mac and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:esb:castrc:2014-306

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