The Return to Keynes

Unknown

ISBN 10: 0674035380 / ISBN 13: 9780674035386

Published by Unknown, 2010

About this Item

Very Good condition.Crisp pages. Clean cover and pages. Book shows minimal shelf wear. No highlighting/marking. Not Satisfied? Contact us to get a refund.

Seller Inventory # BRG-23_4_737

Bibliographic Details

• Title: The Return to Keynes
• Publisher: Unknown
• Publication Date: 2010
• Language: English
• ISBN 10: 0674035380
• ISBN 13: 9780674035386
• Binding: hardcover
• Condition: Very Good

About this title

Synopsis

Keynesian economics, which proposed that the government could use monetary and fiscal policy to help the economy avoid the extremes of recession and inflation, held sway for thirty years after World War II. However, it was discredited after the stagflation of the 1970s, which not only proved resistant to traditional Keynesian policies but was actually thought to be caused by them. By the 1990s, the anti-Keynesian counter-revolution seemed to reach its pinnacle with the award of several Nobel Prizes in economics to its architects at the University of Chicago.

However, with the collapse of the dot-com boom in 2000 and the attacks of 9/11 a year later, the nature of macroeconomic policy debate took a turn. The collapse prompted a major shift in macroeconomic policy, as the Bush administration and other governments around the world began to resort to Keynesian measures―both monetary and fiscal policies―to stabilize the economy. The Keynesian rebirth has been most dramatically illustrated during the past year when central banks have pumped billions of dollars of liquidity into the world’s financial system to address the crises of confidence, illiquidity, and insolvency that were triggered by the sub-prime lending crisis. The Return to Keynes puts Keynesian economics in a fresh perspective in order to assess this surprising new era in economic policy making.

About the Authors

Bradley W. Bateman is President of Randolph College and was formerly Provost and Professor of Economics at Denison University.

Toshiaki Hirai is Professor of Economics, Sophia University, Tokyo.

Maria Cristina Marcuzzo is Professor of Political Economy, Sapienza University of Rome.