in It's Not Over

Published in print January 2013 | ISBN: 9780198088417
Published online January 2013 | e-ISBN: 9780199082292 | DOI:

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With the withdrawal of the Keynesian demand-management policies of the post-World War era, the world economy became increasingly dependent of the asset-price inflated consumption demand in the US and, consequently, on the exports from the ‘emerging economies’. But once the asset-price bubbles burst and consequently consumption evaporated in the US, the world economy witnessed the worst crisis since the days of the Great Depression. It is becoming clear by the day that the burden of cleaning up the mess created by such a growth process is falling invariably on the working classes of both the third world countries as well as the advanced capitalist world. This is the time to reassert alternative policy prescriptions which would be beneficial to the common people of the world.

Keywords: alternative interpretation; globalised finance; third world; keynesian policies

Chapter.  5174 words. 

Subjects: Macroeconomics and Monetary Economics

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