Positioning of the Mainstream Economics in the Context of the Crisis Cover Image

Pozycjonowanie głównego nurtu ekonomii w kontekście globalnego kryzysu
Positioning of the Mainstream Economics in the Context of the Crisis

Author(s): Wiktor Szydło
Subject(s): Economy, Recent History (1900 till today), Financial Markets
Published by: Wydawnictwo Naukowe Uniwersytetu Szczecińskiego
Keywords: heterodox economics; orthodox economics; global financial crisis;

Summary/Abstract: The aim of the paper is to demonstrate the weakness of the orthodoxy which caused the crisis and has problems with its resolution. The division into practical and theoretical orthodoxy was proposed. The former (new Keynesianian economics) is exercised directly after the bursting of the stock market bubble, the latter gains importance during the boom. Theoretical orthodoxy represents a typical free market rhetoric concentrating on further deregulation of the financial markets.

  • Issue Year: 29/2014
  • Issue No: 03 (2)
  • Page Range: 129-140
  • Page Count: 12
  • Language: Polish