Post-Keynesian Macroeconomic Foundations for Comparative Political Economy
نویسندگان
چکیده
The global financial crisis and ensuing weak growth have increased interest in macroeconomic issues within comparative political economy (CPE). CPE, particularly the dominant Varieties of Capitalism approach, has based its analyses on mainstream economics, which limits analysis relation between distribution neglects role finance plays modern economies. It overstates stability capitalist process understates potential effectiveness government interventions. Baccaro Pontusson suggested a post-Keynesian (PK) theory as an alternative. This article generalizes their point. PK highlights instability lends itself to income power relations. identifies financialization cycles, understanding neoliberal models, central banks areas where economics provides specific insights for CPE. also that these arguments important implications policy era secular stagnation with ongoing social, distributional, economic crises.
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ژورنال
عنوان ژورنال: Politics & Society
سال: 2021
ISSN: ['1552-7514', '0032-3292']
DOI: https://doi.org/10.1177/00323292211006562