RE: [OPE] "an immense accumulation of factors": Rick Wolff's partial list of causes of the economic crisis

> In my view, we are in a post-Keynesian era now, in which many of Keynes's ideas no
> longer apply, and are no longer influential. In response to depressed average industrial
> rates of profit and stagnant real wages limiting market expansion, a global system of trade,
> credit and finance developed (exascerbating unequal exchange) which makes many
> Keynesian prescriptions impossible to operationalize. I do not regard tax & interest rate
> cuts, state capital injections, and a deflationary monetary regime as specifically "Keynesian"
> policies.
 
 
 
Hi Jurriaan:
 
What, then, do you view as specifically Keynesian fiscal and monetary policies for closing a
contractionary (recessionary) gap?
 
In solidarity, Jerry

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Received on Mon Nov 17 09:54:06 2008