Readership: Students and teachers of economics, macroeconomics, and international finance, as well as financial analysts and
Edited by Toshiaki Hirai, Professor of Economics, Sophia University, Tokyo, Maria Cristina Marcuzzo, Professor, Department of Statistical Sciences, Sapienza University of Rome, Rome, and Perry Mehrling, Professor of Economics, Barnard College, Columbia University, New York
Toshiaki Hirai is Professor of Economics, Sophia University, Tokyo.
Maria Cristina Marcuzzo is Professor, Department of Statistical Sciences, Sapienza University of Rome.
Perry Mehrling is Professor of Economics, Barnard College, Columbia University, New York.
List of Tables and Figures
List of Abbreviations
I. Effective Demand in the Crisis
1. Re-embracing Keynes: Scholars, Admirers, and Sceptics in the Aftermath of the Crisis
2. The Dog Called Investment
3. Keynes, Kalecki, and the Real World
II. Economic Theory and the World Recession
4. The State of Macroeconomics in View of Global Financial Crisis
5. Keynes and Capitalism: The Case of Japan
6. Keynes and the Case for Europe
III. Money and International Liquidity
7. Was Keynes' Monetary Policy à Outrance in the Treatise, the Model for ZIRP and QE?
8. Liquidity Preference of Banks and Crises
9. Why Not Bancor? Keynes's Currency Plan as a Solution to Global Imbalances
10. In a Keynesian Mood? Why Exchange Rate Systems Collapse
IV. Finance and International Economic Disorder
11. Uncertainty and Speculation in the Keynesian Tradition: Relevance in Commodity Futures
12. Financial Keynesianism and Market Instability
13. Financial Globalization and the Future of the Fed
14. Some Foreseeable Disasters of the Global Economy: The High Cost of Neglecting Keynes's Approach