1. Contending Theories of the Current Economic Crisis.
- Author
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van der Veen, Marjolein
- Subjects
- *
GLOBAL Financial Crisis, 2008-2009 , *RECESSIONS , *ECONOMICS methodology , *SCHOOLS of economics , *NEOCLASSICAL school of economics , *KEYNESIAN economics , *MARXIAN economics , *ECONOMIC history , *TWENTIETH century , *FINANCIAL crises , *SOCIAL problems , *ECONOMIC policy , *ECONOMIC bubbles ,UNITED States economy, 2009-2017 - Abstract
The article presents an analysis on the factors that caused the 2008 global financial crisis in the U.S. It discusses various explanations of the crisis and the solutions offered by economists from the four schools of thought which include Neoclassicals, Keynesians, Institutionalists and Marxists. It also provides useful insight and view from the different schools of thought regarding the government's response to address the problem and the economic imbalances of the nation. Furthermore, it explores the Marxists' concept on the systemic causes of the crisis and its suggestion on the need for the government to initiate investigations and interventions.
- Published
- 2013
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