Jan A. Kregel Libri

"The collaborative work of a group of distinguished European and American scholars, The Market Shock puts forward a new constructive and more humane approach to reconstructing the formerly communist economies." "The reconstruction of the Central and Eastern European economies seems to resemble the 1920s more than the 1950s: inflation continues, output and employment fall and with them the living conditions of the common people. Is this decline necessary for the construction of the market economy which will bring wealth and well-being? This book argues that not only is the decline not necessary, it even may prevent the creation of a market-based economy." "Current programs based on the abolition of controls and subsidies, tight management of the money supply, and the privatization of state property all work to reduce output and employment and living standards. But these programs lack positive measures to create the market relationships that would generate new production prospects. So far the policies have been ones of uncreative destruction." "It is argued that an emergency program must first stabilize conditions so that people can believe in a better future. Then rather than wholesale privatization, incentive schemes must be used to make management responsible for meeting financial constraints. The other crucial component is the active creation of conditions in which new wealth will begin to be created: the context in which agents take decisions must be changed; economic and financial institutions are needed which encourage individuals to become market-makers; and the developed economies must produce the appropriate international context."--BOOK JACKET

Focusing on financial crises and their repercussions on growth, this collection of essays by Jan A. Kregel offers insights from post-Keynesian and Minskyean viewpoints. It addresses a range of topics, including the financial crises in developing nations and contemporary financial regulations in the United States, highlighting Kregel's significant contributions to economic thought.

Kregel liefert mit diesem Buch eine „fundierte und leicht lesbare Einführung in das postkeynesianische Denken“ (Die Zeit). Er stützt sich hierbei stark auf die Arbeiten Joan Robinsons. Das Buch kann daher auch als Einführung in das Werk dieser herausragenden Nationalökonomin gelesen werden. Teil I stellt klassische Politische Ökonomie, Neoklassik und Postkeynesianismus in ihren historischen Zusammenhang und arbeitet die unterschiedliche Bedeutung ihrer gemeinsamen Terminologie heraus. Teil II bringt die grundlegende Methode, die Mechanismen und Lehrsätze in ihre einfachste Form. Im Teil III werden Anwendungen des postkeynesianischen Ansatzes auf ausgewählte wichtige Problembereiche aufgezeigt. Teil IV greift Unterschiede und Ähnlichkeiten alternativer Ansätze (Joan Robinson, Kaldor, Pasinetti) auf, die alle auf der Arbeit von Keynes aufbauen.