商品簡介
Arguing that the economic theory dominating academic teaching in the last forty years has not been applicable to the economic system, the author shows how post-Keynesian economic theory can apply to the real world and address problems with current theory by legislating regulatory rules on financial markets and having central banks ready to alleviate a financial liquidity crisis if it occurs. He explains the flaws in classical theory; its axioms and relationship to unemployment; the role of money and money contracts and savings and liquidity; why mainstream Keynesian theory is not Keynes' theory; the need to create full employment policies; why the neutral money theory analysis of inflation or deflation is not applicable to the current economy; securitization, liquidity, and market failure, with discussion of the 2008 financial crisis; and globalization, international trade, and international payments. Annotation c2015 Ringgold, Inc., Portland, OR (protoview.com)
作者簡介
Paul Davidson, Holly Chair of Excellence Emeritus, University of Tennessee, US and Founding Editor of the Journal of Post Keynesian Economics
