Economic Instability and Stabilization Policy

Explains why Keynesian fiscal policy and current monetary policy weaken market economy Analyzes the root causes for an impasse of economic instability and social inequality Presents a way to overcome the impasse with a knowledge-based society and a reoriented central bank policy

Autorentext

Ralf Pauly is Professor Emeritus of econometrics and statistics in the Institute of Empirical Economic Research, University of Osnabrück (Germany). Until his retirement, he was working on statistical analyses of financial markets, especially on risk analysis and risk management. More recently, his research focused on economic instability and social inequality, as well as on the reorientation of government stabilization policy.

Inhalt
Preface.- Chapter 1. Introduction: views on economic crises in the 21st century.- Chapter 2. A review of the history of the economy and its concepts: change is a constant.- Chapter 3. Keynes' and Minsky's macroeconomics.- Chapter 4. Outlook on the transformation of the market economy and its stabilization.- Chapter 5. Conclusion: changing economic policies.- References.