TY - BOOK ID - 4863271 TI - The global crisis of 2008 and Keynes's general theory PY - 2015 SN - 9783319114514 3319114506 9783319114507 3319114514 PB - Cham : Springer International Publishing : Imprint: Springer, DB - UniCat KW - Economics/Management Science. KW - Methodology and the History of Economic Thought. KW - Economic Policy. KW - Economic Theory. KW - Financial Economics. KW - Macroeconomics/Monetary Economics. KW - Economics. KW - Economic policy. KW - Macroeconomics. KW - Economics KW - Finance. KW - Economie politique KW - Politique économique KW - Macroéconomie KW - Finances KW - Methodology. KW - Méthodologie KW - Economics_xMethodology. KW - Business & Economics KW - Economic History KW - Keynesian economics. KW - Global Financial Crisis, 2008-2009. KW - Global Economic Crisis, 2008-2009 KW - Subprime Mortgage Crisis, 2008-2009 KW - Post-Keynesian economics KW - Economic history. KW - Economic theory. KW - Methodology/History of Economic Thought. KW - Economic Theory/Quantitative Economics/Mathematical Methods. KW - Macroeconomics/Monetary Economics//Financial Economics. KW - Financial crises KW - Schools of economics KW - History of Economic Thought/Methodology. KW - Economic theory KW - Political economy KW - Social sciences KW - Economic man KW - Economic nationalism KW - Economic planning KW - National planning KW - State planning KW - Planning KW - National security KW - Social policy KW - Economic conditions KW - History, Economic UR - https://www.unicat.be/uniCat?func=search&query=sysid:4863271 AB - This book describes the international context and some of the factors that have weakened the influence of Keynesian economic thought. It illustrates economic responses offered by the new Keynesian school and the alternative perspective on the global crisis presented by the monetary circuit theory, with a special emphasis on Minsky’s financial instability hypothesis. The authors present a commentary on Keynes’s General Theory with an emphasis on his theory of the scarcity of capital, his analysis of the change in the structure of costs, and straightforward recommendation for a policy marked by very low interest, which he felt was needed to maintain full employment. Additionally, the book discusses major changes in the cost structure of globally active companies, resulting from the extremely intense international capital flows over the last three decades. The authors point out the need to redefine the open economy macroeconomics model, switching it from a world consisting of two major developed open economies to one consisting of two major open economies, one of which is developed and the other is developing. ER -