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Alternative Explanations of the Operation of a Capitalist Economy

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  • Paul Davidson

Abstract

Why has financial deregulation led to credit crisis? This macroeconomist returns to John Maynard Keynes for an explanation of the failure of financial markets—and indeed the failure of accepted economic theory today—to warn the nation, no less to prevent its occurring.

Suggested Citation

  • Paul Davidson, 2009. "Alternative Explanations of the Operation of a Capitalist Economy," Challenge, Taylor & Francis Journals, vol. 52(6), pages 5-28.
    • Handle: RePEc:mes:challe:v:52:y:2009:i:6:p:5-28
    DOI: 10.2753/0577-5132520601
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    Cited by:

    1. Lino Sau, 2013. "Instability and Crisis in Financial Complex Systems," Review of Political Economy, Taylor & Francis Journals, vol. 25(3), pages 496-511, July.
    2. Mornati, Fiorenzo & Becchio, Giandomenica & Marchionatti, Roberto & Cassata, Francesco, 2009. ""Quando l'economica italiana non era seconda a nessuno" Luigi Einaudi e la Scuola di Economia a Torino," CESMEP Working Papers 200910, University of Turin.
    3. Howard Sherman, 2010. "Toward a Progressive Macroeconomic Explanation of the Recession," Challenge, Taylor & Francis Journals, vol. 53(4), pages 68-85.
    4. Peter Docherty, 2012. "Keynes’s General Theory, the Quantity Theory of Money and Monetary Policy," Chapters, in: Thomas Cate (ed.), Keynes’s General Theory, chapter 6, Edward Elgar Publishing.

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