Financial instability and economic security after the great recession / edited by Charles J. Whalen.
Associated Name: Whalen, Charles J., 1960-
Publication year: c2011.
Call Number HB3722 .F563 2011
Media class: Book
Publisher: Cheltenham, UK ;Northampton, MA : Edward Elgar
ISBN: 9780857934833 085793483X
Additional information: xiv, 219 p. : ill. ; 24 cm.
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This book rethinks economic theory and policy by addressing the problem of financial instability and the need to secure broadly shared prosperity in the United States and across the globe. It stresses that advancing economics in the wake of the Great Recession requires an evolutionary standpoint, serious attention to uncertainty and expectations, and integration of finance into macroeconomics. The result is a broader array of challenges and policy options than are normally recognized by most economists. Building on pioneering work of Thorstein Veblen, John R. Commons and John Maynard Keynes, the authors synthesize key insights from Institutional and Post Keynesian economics into Post-Keynesian Institutionalism. They use that framework to explore an array of economic problems confronting the United States and world. Inspired by work of Hyman P. Minsky, the authors place financial relations at the center of their analysis of how economies operate and change over time.
Preface -- Introduction : instability, prosperity and economics after the Great Recession / Charles J. Whalen -- Foundations. Subverting Say's law: Harlan McCracken and the Commons-Keynes connection / Steven Kates -- Towards a synthesis of institutional and post-Keynesian economics / W. Robert Brazelton and Charles J. Whalen -- Futurity : cornerstone of post-Keynesian institutionalism / Glen Atkinson and Charles J. Whalen -- The American economy. Understanding and preventing financial instability : post-Keynesian institutionalism and government as employer of last resort / Fadhel Kaboub -- Towards a more rapid recovery : incorporating subsidiarity into macroeconomic policy / David A. Zalewski and Charles J. Whalen -- Financial stability, regulatory buffers and economic growth after the Great Recession : some regulatory implications / Éric Tymoigne -- The global economy. Regulating for stability : bank capitalization and the emergence of an international lender of last resort / Jan Toporowski -- Evolution without fundamental change : the Washington Consensus on economic development and its significance for post-Keynesian institutionalism / John Marangos and Charles J. Whalen -- Money-manager capitalism, capital flows and development in emerging market economies : a post-Keynesian institutionalist analysis / Yan Liang -- Conclusion. The future of post-Keynesian institutionalism / Charles J. Whalen.
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