Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/204255 
Authors: 
Year of Publication: 
2013
Series/Report no.: 
Policy Notes and Reports No. 12
Publisher: 
The Vienna Institute for International Economic Studies (wiiw), Vienna
Abstract: 
The paper explains a curious redirection of economic policies that uses the policy framework of Kalecki and Keynes only to undermine it. It does not negate their theory of demand management, but reformulates it to serve the powerful interests of finance in the era of financial globalisation. As a result accountability to finance rather than to the citizens becomes more important for democratic governments and credit rating dominates democratic performance.
Subjects: 
aggregate demand
real and money wage
income distribution
trade war
shadow banks
endogenous money
credit rating
JEL: 
E21
E42
E44
E62
F21
F51
G12
G15
Document Type: 
Research Report

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