Joseph Stiglitz: Keynes redux

Is it premature to be this cynical?


Joseph Stiglitz: Keynesian economics finds new relevancy in the 21st century global economy

… Today, the risk is that the new Keynesian doctrines will be used and abused to serve some of the same interests. Have those who pushed deregulation 10 years ago learned their lesson? Or will they simply push for cosmetic reforms — the minimum required to justify the mega-trillion dollar bail-outs? Has there been a change of heart, or only a change in strategy? After all, in today’s context, the pursuit of Keynesian policies looks even more profitable than the pursuit of market fundamentalism! …

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