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Mexico: the Great Depression and the Coronacrisis, 1929 and 2020
- Source :
- Brazilian Journal of Political Economy, Vol 43, Iss 2, Pp 442-464 (2023)
- Publication Year :
- 2023
- Publisher :
- Editora 34, 2023.
-
Abstract
- ABSTRACT By contrasting the Great Depression and the Coronacrisis, we demonstrate that narrative economics (Shiller, 2017) is key in the analysis of economic fluctuations. We note the importance of the populist narrative to understand the economic and health outcomes of the Coronacrisis in Mexico and highlight the role of the predominance of different economic paradigms in economic policy decision-making. We suggest that, just as in 1929, by following orthodox primary fiscal balance sheet policies at the cost of contracting government investment, the Mexican economy will undergo a long and painful recovery process compared to its global peers.
Details
- Language :
- English, Portuguese
- ISSN :
- 18094538 and 01013157
- Volume :
- 43
- Issue :
- 2
- Database :
- Directory of Open Access Journals
- Journal :
- Brazilian Journal of Political Economy
- Publication Type :
- Academic Journal
- Accession number :
- edsdoj.495c8ce974ed4bfd9c03bfcb8fe44049
- Document Type :
- article
- Full Text :
- https://doi.org/10.1590/0101-31572023-3388