Re: [Pen-l] global keynesianism light

["Jim Devine" <jdevine03@xxxxxxxxx>]

To what extent was Keynes himself concerned with inequality or
environmental sustainability?

Gernot Koehler wrote:
> An observation from the perspective of global keynesianism. There are many
> varieties of keynesianism (as there are of other -isms and religions).
> Watching the current international scene, one could say that a kind of
> _global keynesianism light_ is being practiced, at least in the core of the
> world system. Numerous countries are working on stimulus packages and are
> showering their national financial institutions with public money (USA,
> Canada, the ECB and various European countries) and the IMF has extended
> credits to bail out various countries (Iceland, Hungary, other).
>
> We do not know yet how successful those activities are going to be. But it
> is clear that they constitute a light, rather than a thorough, version of
> international or global keynesianism, since those measures fail to address
> three requirements of a thorough global keynesianism, namely (1) structural
> changes of the world financial system (Keynes' ideas at the time of Bretton
> Woods were more far-reaching with respect to creating a global currency),
> (2) reversing global income inequality, (3) global restructuring for
> environmental sustainability. That is a mistake (three mistakes, to be
> precise).

-- 
Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own
way and let people talk.) -- Karl, paraphrasing Dante.
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