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2021 | OriginalPaper | Chapter

1. Introduction: Views on Economic Crises in the Twenty-First Century

Author : Ralf Pauly

Published in: Economic Instability and Stabilization Policy

Publisher: Springer Fachmedien Wiesbaden

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Abstract

The book focuses on economic change and the state interventions. The permanently applied Keynesian stabilization policy causes debt to rise. Minsky sees the current heavily debt-financed economy as the source of growing economic instability. The central banks take measures to strengthen the flow of profits and support asset holdings. In doing so, they favor economic inequality. Their massive interventions in economic crises lead to distorted markets and an intertemporal imbalance. In view of these adverse developments, a reorientation of state interventions is urgently needed.

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next chapter A Review of the History of the Economy and Its Concepts: Change Is a Constant
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Metadata
Title
Introduction: Views on Economic Crises in the Twenty-First Century
Author
Ralf Pauly
Copyright Year
2021
Book
Economic Instability and Stabilization Policy

Print ISBN: 978-3-658-33625-7

Electronic ISBN: 978-3-658-33626-4

Copyright Year: 2021

DOI
https://doi.org/10.1007/978-3-658-33626-4_1