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What remains of the theory of demand management in a globalising world?

Published online by Cambridge University Press:  01 January 2023

Amit Bhaduri
Amit Bhaduri*
Affiliation:
Jawaharlal Nehru University, India
*
Amit Bhaduri, Jawaharlal Nehru University, New Delhi 110067, India. Email: amit.bhaduri@gmail.com
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Abstract

This article explains a curious redirection of economic policies that uses the policy framework of Kalecki and Keynes only to undermine it. It does not negate their theory of demand management, but reformulates it to serve the powerful interests of finance in the era of financial globalisation. As a result, accountability to finance rather than to the citizens becomes more important for democratic governments, and credit rating dominates democratic performance.

Keywords

E21F21G12Income distribution
Type
Keynote Articles
Information
The Economic and Labour Relations Review , Volume 25 , Issue 3: Special issue - Crisis, Austerity, Neoliberalism and alternatives , September 2014 , pp. 389 - 396
Copyright
© The Author(s) 2014

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