nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2015‒10‒10
five papers chosen by
Karl Petrick
Western New England University

  1. Etre Keynésien au XXI siècle : Patriotisme économique ou mondialisation keynésienne ? By Christophe Lavialle
  2. Globalisation and Conflicts: A Theoretical Approach By Bonginkosi Mamba, André C Jordaan and Matthew Clance
  3. Climate change and the geographical and institutional drivers of economic development By David Castells-Quintana; Maria del Pilar Lopez-Uribe; Tom McDermott
  4. Some differences between the Great Depression and the Recient Crisis: learning a lesson By Andrés Fernández Díaz
  5. Global Development Goals: If At All, Why, When and How? By Sanjay G. Reddy; Ingrid Harvold Kvangraven

  1. By: Christophe Lavialle (LEO - Laboratoire d'économie d'Orleans - CNRS - UO - Université d'Orléans)
    Abstract: Dans un texte de 1933 publié par The Yale Review, John Maynard Keynes présente ses arguments en faveur de l'autosuffisance nationale. Il y plaide pour le refus d'un internationalisme sans contrôle, et propose aux pays démocratiques adeptes du libéralisme politique de mettre en oeuvre le niveau de patriotisme économique adapté au maintien de leurs équilibres sociaux et à la promotion d'une « république sociale idéale ». Alors que la crise déclenchée en 2008, qui par bien des aspects montre les limites d'une globalisation financière et réelle sans contrôle, a remis au goût du jour l'enseignement du maître de Cambridge, cet article produit un écho tout à fait surprenant. Le pari de cette communication est alors qu'il peut être précisément éclairant d'analyser les enjeux de la période en cours à la lumière de cet écrit et des positions qu'y développe Keynes, pour voir, si sur ce thème aussi, sa pensée reste actuelle et riche d'enseignements. L'objet de la communication est donc de repérer les différents arguments avancés par Keynes dans son texte et d'en analyser l'actualité ou l'obsolescence. Il est aussi de rapprocher l'argumentaire, essentiellement intuitif, de celui, analytique, développé trois ans plus tard dans la Théorie Générale. Il est enfin de l'inscrire dans la philosophie globale qui est celle de Keynes des questions économiques, politiques et morales.
    Keywords: pragmatisme.,nationalisme économique,libéralismes,Keynes
    Date: 2014
  2. By: Bonginkosi Mamba, André C Jordaan and Matthew Clance
    Abstract: This paper is aimed at providing insights into the interplay between globalisation and conflicts through a theoretical literature review. The motivation is drawn from a large number of debates advocating globalisation as being a double edged sword. The main argument is drawn from the Liberal premise that globalization, through integration and economic interdependence dampens the likelihood of conflicts, whilst the opposite holds for Structuralist theorists. The key highlight from the study is that, different factors exist in determining the relationship between globalisation and conflicts hence furthering the study by means of conducting an evidence based research design is essential in interrogating and extending the current discourse.
    Keywords: Globalisation and Conflicts, Dyads Integration, Trade Agreements, Inter-State Wars, Intra-State Wars
    JEL: D74 F14 F18 F51 O19
    Date: 2015
  3. By: David Castells-Quintana; Maria del Pilar Lopez-Uribe; Tom McDermott
    Abstract: The links between climate change, economic development and poverty reduction have gained increasing attention over recent years in both the academic and policy literature. In this paper we review potential effects of climate change on the prospects for long-run economic development. These effects might operate directly, via the role of geography (including climate) as a fundamental determinant of relative prosperity, or indirectly by modifying the environmental context in which political and economic institutions evolve. In this regard, we consider potential mechanisms from climate change to long-run economic development that have been relatively neglected to date, including, for instance, effects on the distribution of income and power. We focus in particular on the effects in low-income, semi-arid countries, as they are anticipated to suffer disproportionately the most negative effects of climate change. They also tend to have relatively weak economic and political institutions, constraining their ability to cope with climate variability and shocks. Our review suggests that there are a potentially important set of dynamic interactions and feedback loops between institutions, climate (impacts and vulnerability) and development, which to date have been understudied. Understanding both the direct as well as the indirect effects of climate change is not only fundamental for the design of mitigation and adaptation strategies; whether by addressing the direct impacts of geographical factors, or by addressing their indirect effects on the socio-political environment, mitigation and adaptation strategies are also fundamental as key elements of broader development strategies. Moreover, as climate shocks disproportionally affect the poor, addressing climate-related risks is also a sound strategy in terms of addressing inequality and poverty reduction.
    Date: 2015–07
  4. By: Andrés Fernández Díaz (Professor of Economics. Facultad de Ciencias Económicas y Empresariales. Universidad Complutense de Madrid. Emeritus Member of the Spanish Court of Accounts)
    Abstract: In this work we try to point out the lost opportunity on the occasion of the treatment of the recent crisis, forgetting principles and theories that were successfully applied in the Great Depression. Our analysis is based in the recuperation and interpretation in the framework of the present time of the work and thought of the professor and distingue member of the Bloomsbury Group, John Maynard Keynes. In this comparative analysis we find a strong contrast between the economic policy outlined by our honorable English economist, and the presence of a recalcitrant single thought and a reductionist determinism that have characterized the economic policies bring about in the crisis years in our country and, in general, in the Eurozone area, given rise to an avoidable situation of austerity and recession.
    Abstract: Este artículo pretende poner de manifiesto la oportunidad perdida que ha supuesto el tratamiento de la crisis padecida en los últimos siete años por los países de la Eurozona al olvidar, al llevarlo a cabo, principios y teorías fundamentales de la Ciencia Económica que, sin embargo, se aplicaron y surgieron sus efectos en los tiempos de la Gran Depresión. Como no podía ser de otra manera, el análisis se basa en una recuperación e interpretación en el marco de referencia de nuestros tiempos de la obra y el pensamiento de John Maynard Keynes, apreciándose un fuerte contraste entre la política económica diseñada por el ilustre economista inglés y la que Europa, de forma impuesta e indiscriminada y basada en la incorregible tendencia al pensamiento único, ha aplicado de forma simple y extremadamente reduccionista, provocando una situación evitable de recortes, austeridad y períodos de recesión
    Keywords: Great Depression, Recent crisis policies, Keynesian Economics, single thought, reductionist determinism, austerity, recession.; Gran depresión, crisis reciente, pensamiento keynesiano, reduccionismo, austeridad, recesión.
    Date: 2015–09
  5. By: Sanjay G. Reddy (Department of Economics, New School for Social Research); Ingrid Harvold Kvangraven (Department of Economics, New School for Social Research)
    Abstract: We raise some basic conceptual questions regarding global development goals: Why have them at all? What function, if any, might they serve, and under what conditions could they do so successfully? Based on our answers to these questions, we identify serious inadequacies in the contemporary approach to development goals and relate these to weaknesses in how the goals were conceived and formulated. Despite these failings, higher-level goals may play a useful role if the practical approach to them is embedded in a holistic and integrated vision of a better world. Focusing on goals rather than targets opens needed space for flexibility, innovation, and fuller democratic accountability.
    Date: 2015–10

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