Weitere Kapitel dieses Buchs durch Wischen aufrufen
Human civilization over the centuries has witnessed a considerable change in how societies are governed. Greater part of history of human civilization covers government by monarchies. The functioning of parliamentary democracy, which is now ruling large portion of the world, has had relatively short life span. Far shorter is the record of totalitarian regimes established after revolutions through military power and armed struggle. In all these societies, from monarchies to democracies, contemporary knowledge of economics governed the policy making in the interest of society. Fiscal and monetary affairs were managed in a manner to balance the fiscal sustainability of the state against the societal interests. Learned men always advised the royalty on the right course of economic policy or fiscal stance. As economics developed as an independent body of social science, economists became the advisors to the policy makers. The affinity between economists and politicians has been a critical factor in most decisive moments in a country’s destiny and also influencing the course of global development. Trust, courage and conviction, and vision of the political leadership determined its political survival from time to time. Such a synergistic partnership of economic wisdom and political traits has led to prosperity and equity at times, while the conventional wisdom and political myopia or obstinacy have also been the cause of economic doom and bankruptcy.
Bitte loggen Sie sich ein, um Zugang zu diesem Inhalt zu erhalten
Sie möchten Zugang zu diesem Inhalt erhalten? Dann informieren Sie sich jetzt über unsere Produkte:
Federal Reserve Bank of New York, New York Fed 101:TALF.
Leaders’ Statement: Pittsburgh Summit, September 24–25, 2009.
The Financial Crisis Inquiry Report: Final Report of the National Commission on the Causes of the Financial Crisis in the United States, January 2011.
Keynes is the first economist who used the discounted cash flow method, which is now common in the subjects of financial management and investments. It related the computation of rate of return on capital with the time value of money.
They are commonly used in modern theory of finance and investment now but were first introduced by Keynes in his General Theory.
Zurück zum Zitat Keynes JM. The general theory of employment, interest and money. London: Macmillan and Co. Ltd.; 1961. Keynes JM. The general theory of employment, interest and money. London: Macmillan and Co. Ltd.; 1961.
- Policy Response
- Springer India
- Chapter 3
Neuer Inhalt/© Stellmach, Neuer Inhalt/© Maturus, Pluta Logo/© Pluta, Rombach Rechtsanwälte/© Rombach Rechtsanwälte