IDEAS home Printed from https://ideas.repec.org/h/elg/eechap/14489_5.html
   My bibliography  Save this book chapter

Towards a more rapid recovery: incorporating subsidiarity into macroeconomic policy

In: Financial Instability and Economic Security after the Great Recession

Author

Listed:
  • David A. Zalewski
  • Charles J. Whalen

Abstract

This timely book rethinks economic theory and policy by addressing the problem of economic instability and the need to secure broadly shared prosperity. It stresses that advancing economics in the wake of the Great Recession requires an evolutionary standpoint, greater attention to uncertainty and expectations, and the integration of finance into macroeconomics. The result is a broader array of policy options – and challenges – than conventional economics presents.

Suggested Citation

  • David A. Zalewski & Charles J. Whalen, 2011. "Towards a more rapid recovery: incorporating subsidiarity into macroeconomic policy," Chapters, in: Charles J. Whalen (ed.), Financial Instability and Economic Security after the Great Recession, chapter 5, pages 93-113, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14489_5
    as

    Download full text from publisher

    File URL: https://www.elgaronline.com/view/9780857934833.00015.xml
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ronnie J. Phillips, 1997. "Rethinking Bank Examinations: A Minsky Approach," Journal of Economic Issues, Taylor & Francis Journals, vol. 31(2), pages 509-516, June.
    2. repec:bla:intfin:v:5:y:2002:i:2:p:251-84 is not listed on IDEAS
    3. John B. Taylor, 2000. "Reassessing Discretionary Fiscal Policy," Journal of Economic Perspectives, American Economic Association, vol. 14(3), pages 21-36, Summer.
    4. Mark Setterfield (ed.), 2006. "Complexity, Endogenous Money and Macroeconomic Theory," Books, Edward Elgar Publishing, number 3552.
    5. Hyman P. Minsky, 1996. "Uncertainty and the Institutional Structure of Capitalist Economies," Journal of Economic Issues, Taylor & Francis Journals, vol. 30(2), pages 357-368, June.
    6. L. Wray, 2008. "Lessons from the Subprime Meltdown," Challenge, Taylor & Francis Journals, vol. 51(2), pages 40-68.
    7. Brent McClintock, 1996. "International Financial Instability and the Financial Derivatives Market," Journal of Economic Issues, Taylor & Francis Journals, vol. 30(1), pages 13-33, March.
    8. Charles Whalen & Jeffrey Wenger, 2002. "Destabilizing an Unstable Economy," Challenge, Taylor & Francis Journals, vol. 45(6), pages 70-92.
    9. Cornwall,John & Cornwall,Wendy, 2001. "Capitalist Development in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521341493, October.
    10. Michael Carter, 1989. "Financial Innovation and Financial Fragility," Journal of Economic Issues, Taylor & Francis Journals, vol. 23(3), pages 779-793, September.
    11. Fadhel Kaboub, 2007. "Institutional Adjustment Planning for Full Employment," Journal of Economic Issues, Taylor & Francis Journals, vol. 41(2), pages 495-502, June.
    12. Charles Whalen, 2008. "Toward ‘Wisely Managed’ Capitalism: Post-Keynesian Institutionalism and the Creative State," Forum for Social Economics, Taylor & Francis Journals, vol. 37(1), pages 43-60, January.
    13. Christopher Brown, 2008. "Inequality, Consumer Credit and the Saving Puzzle," Books, Edward Elgar Publishing, number 12877.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Charles J. Whalen, 2020. "Post-Keynesian institutionalism: past, present, and future," Evolutionary and Institutional Economics Review, Springer, vol. 17(1), pages 71-92, January.
    2. Charles J. Whalen, 2010. "An Institutionalist Perspective on the Global Financial Crisis," Chapters, in: Steven Kates (ed.), Macroeconomic Theory and its Failings, chapter 14, Edward Elgar Publishing.
    3. John Marangos & Charles J. Whalen, 2011. "Evolution without fundamental change: the Washington Consensus on economic development," Chapters, in: Charles J. Whalen (ed.), Financial Instability and Economic Security after the Great Recession, chapter 8, pages 153-178, Edward Elgar Publishing.
    4. Yun K. Kim, 2020. "Household Debt Accumulation and the Great Recession of the United States: A Comparative Perspective," Review of Radical Political Economics, Union for Radical Political Economics, vol. 52(1), pages 26-49, March.
    5. Leonardo Vera, 2017. "The Distribution of Power and the Inflation-Unemployment Relationship in the United States: A Post-Keynesian Approach," Review of Radical Political Economics, Union for Radical Political Economics, vol. 49(2), pages 265-285, June.
    6. Yun K. Kim, 2017. "Rise of Household Debt and the Great Recession in the US: Comparative Perspectives," Working Papers 2017_03, University of Massachusetts Boston, Economics Department.
    7. Hein, Eckhard & Dodig, Nina & Budyldina, Natalia, 2014. "Financial, economic and social systems: French Regulation School, Social Structures of Accumulation and Post-Keynesian approaches compared," IPE Working Papers 34/2014, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
    8. Jan Toporowski, 2013. "The Elgar Companion to Hyman Minsky," Review of Political Economy, Taylor & Francis Journals, vol. 25(1), pages 175-177, January.
    9. Leszek Kąsek & Marek Lubiński, 2010. "Hyman Minsky – wczoraj i dziś," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 4(1), March.
    10. W. Robert Brazelton & Charles J. Whalen, 2011. "Towards a synthesis of Institutional and Post Keynsian economics," Chapters, in: Charles J. Whalen (ed.), Financial Instability and Economic Security after the Great Recession, chapter 2, pages 28-52, Edward Elgar Publishing.
    11. Charles J. Whalen (ed.), 2011. "Financial Instability and Economic Security after the Great Recession," Books, Edward Elgar Publishing, number 14489.
    12. Charles J. Whalen, 2011. "The future of Post-Keynesian Institutionalism," Chapters, in: Charles J. Whalen (ed.), Financial Instability and Economic Security after the Great Recession, chapter 10, pages 205-210, Edward Elgar Publishing.
    13. Charles J. Whalen, 2016. "Post-Keynesian economics: a pluralistic alternative to conventional economics," International Journal of Pluralism and Economics Education, Inderscience Enterprises Ltd, vol. 7(1), pages 22-38.
    14. Noemi Levy Orlik, 2012. "Financial markets in developing countries," Chapters, in: Jan Toporowski & Jo Michell (ed.), Handbook of Critical Issues in Finance, chapter 16, pages i-ii, Edward Elgar Publishing.
    15. Dimitri B. Papadimitriou & L. Randall Wray, 2010. "Introduction: Minsky on Money, Banking and Finance," Chapters, in: Dimitri B. Papadimitriou & L. Randall Wray (ed.), The Elgar Companion to Hyman Minsky, chapter 1, Edward Elgar Publishing.
    16. Nina Dodig & Hansjorg Herr, 2015. "Theories of finance and financial crisis – Lessons for the Great Recession," Working papers wpaper126, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    17. Christine Sinapi, 2011. "Institutional Prerequisites of Financial Fragility within Minsky's Financial Instability Hypothesis: A Proposal in Terms of 'Institutional Fragility'," Economics Working Paper Archive wp_674, Levy Economics Institute.
    18. Yan Liang, 2011. "Money-manager capitalism, capital flows and development in emerging market economies: a Post-Keynesian Institutionalist analysis," Chapters, in: Charles J. Whalen (ed.), Financial Instability and Economic Security after the Great Recession, chapter 9, pages 179-201, Edward Elgar Publishing.
    19. Jorg Bibow, 2004. "Fiscal Consolidation: Contrasting Strategies & Lessons From International Experiences," Economics Working Paper Archive wp_400, Levy Economics Institute.
    20. Hanappi, Hardy & Hanappi-Egger, Edeltraud, 2004. "New Combinations :Taking Schumpeter's concept serious," MPRA Paper 28396, University Library of Munich, Germany.

    More about this item

    Keywords

    Economics and Finance;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:elg:eechap:14489_5. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Darrel McCalla (email available below). General contact details of provider: http://www.e-elgar.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.