Joseph Stiglitz by 50MINUTES.COM

Joseph Stiglitz by 50MINUTES.COM

Author:50MINUTES.COM
Language: eng
Format: epub
Publisher: 50Minutes.com
Published: 2015-03-01T16:00:00+00:00


THE NEW KEYNESIANISM TREND

Hypotheses

Opposing neoclassical theory, Stiglitz reveals himself to be a supporter of the ideas of the famous British economist John M. Keynes. According to them, the market cannot regulate itself and state intervention is always desirable, especially in times of economic recovery.

However, Stiglitz does not support all the hypotheses of Keynesianism, as he does not subscribe to the idea of perfect information. This modification is the main axis of a new trend, New Keynesianism, which is inspired by Keynes and complemented by Stiglitz, as well as information economics.



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