John M. Keynes and his anti-crisis program
DOI:
https://doi.org/10.12775/AUNC_ECON.2013.019Keywords
financial crisis, effective demand, money, monetary policy, fiscal policy, international payments systemAbstract
The paper presents some crucial fiscal and monetary actions proposed by John M. Keynes in order to struggle with the consequences of the Great Depression. The recent world financial crisis lasting since 2007–2008 restored their significance and efficiency. Nowadays, Keynes’s proposals are explicitly used to create numerous public decisions aimed at active economic stabilization. Keynes’s proposition concerning the necessary reform of the international payments system, however, remains unnoticed and undervalued. Still it seems to be particularly adequate for current situation of the Euro countries.
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