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Post Keynesian Theory And Policy: A Realistic Analysis Of The Market Oriented Capitalist Economy. at Meripustak

Post Keynesian Theory And Policy: A Realistic Analysis Of The Market Oriented Capitalist Economy.

Books from same Author: Cp Edward Elgar

Books from same Publisher: Edward Elgar Publishing Ltd

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    • General Information  
    Author(s)Cp Edward Elgar
    PublisherEdward Elgar Publishing Ltd
    EditionCp Edward Elgar
    ISBN9781784718244
    Pages160
    BindingPaperback
    LanguageEnglish
    Publish YearOctober 2015

    Description

    Edward Elgar Publishing Ltd Post Keynesian Theory And Policy: A Realistic Analysis Of The Market Oriented Capitalist Economy. by Cp Edward Elgar

    How did economic "experts" worldwide fail to predict the financial crisis of 2007-2008? Eminent economist Paul Davidson discusses how mainstream economic theory may not be applicable to the world of experience. Post Keynesian theory is designed to be applicable to the real world and this book demonstrates how applying it to policy formulation could help practically resolve economic problems. Davidson goes on to demonstrate how many Post Keynesian economists warned of the impending financial crisis as early as 2002.Post Keynesian Theory and Policy challenges the axioms on which orthodox economic theory is based and argues against their applicability to a money using market oriented economy. It explores the basis for Keyness revolutionary general theory and seeks to dispel misconceptions often found in orthodox textbooks. This accessible and expertly constructed book explains why modern economies use money denominated contracts to organize all market transactions for production and exchange and why the law of comparative advantage argument for free trade is not applicable to mass production industries exports and imports. This book is a valuable resource for professional economists as well as students and academics in economics political science and history who will appreciate its new perspective and analysis of global financial events.show more