Tuesday, December 16, 2008

We are all Keynesians now

Artikel menarik dari Stiglitz....

"We are all Keynesians now. Even the right in the United States has joined the Keynesian camp with unbridled enthusiasm and on a scale that at one time would have been truly unimaginable....

...Keynes argued not only that markets are not self-correcting, but that in a severe downturn, monetary policy was likely to be ineffective. Fiscal policy was required...."

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"The world has not been kind to neo-liberalism, that grab-bag of ideas based on the fundamentalist notion that markets are self-correcting, allocate resources efficiently, and serve the public interest well..."

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1 comment:

Berly said...

But should Indonesia be Keynesian now?


its not liquidity trap for indonesia (yet).