Tag Archives: Global Financial Crisis

The Failure of Economic Policy

July 29, 2016


Economics-UmbrellaEconomics needs to get rid of its “dismal science” status, to really become a relevant scientific approach to understand and eventually solve the major socio-economic as well as geo-political issues of the contemporary world. Louis-Philippe Rochon and Sergio Rossi take a look at the way ahead. […]

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Elgar Debates: How to Promote a Global Economic Recovery? “It is pure fantasy to believe that anything but demand is the driving force of economic activity”

December 4, 2014


bank run

What are the best economic policies to promote a global recovery?  Here, in the fourth letter of this debate, Louis-Philippe Rochon defends Keynesian theory and argues that austerity is causing great social as well as economic harm.

To follow this debate from the beginning, read Steve Kates’ first letter here.  Then read Louis-Philippe’s reply, and then Steve’s reply to Louis-Philippe.


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Elgar Debates: How to Promote a Global Economic Recovery? The Keynesian vs. Free Market approach

November 13, 2014



What are the best economic policies to promote global recovery?  In the first of a series of exchanges, Steven Kates, Associate Professor of Economics at RMIT University, tries to persuade Louis-Philippe Rochon, Associate Professor at Laurentian University and Founding Co-editor of the Review of Keynesian Economics, that Keynesian theory just makes economic problems worse.


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Co-operative Enterprise: a solution to contemporary economic problems. By Tim Mazzarol

July 17, 2014



Well-designed co-operative business models that maintain a close eye on the creation and delivery of value to their members are among the most resilient of enterprises. Tim Mazzarol argues that with their focus on the economic and social development of their members, and their strong democratic principles, co-operatives offer an attractive solution to the current economic problems facing the world.


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Does the Chinese economy have enough puff left? – by Mervyn Lewis

November 14, 2013


photo credit: Christopher Augapfel via Flickr cc

photo credit: Christopher
via Flickr cc

Despite anxieties about how quickly the Federal Reserve may exit from its easy money policies and the ongoing saga of the US budget and debt ceiling, few things matter as much for the world economy as what China does.  China’s growth over the last decade, in combination with that of other emerging economies, has helped underpin the international economy post-crisis and prop up the ailing developed world.

Still, with the IMF in its latest World Economic Outlook lowering China’s forecast growth rate in 2014 to 7.3 per cent per annum and observing ‘strengthening conviction that China will grow more slowly over the medium term than in the recent past’, this growth engine seems to be running out of steam, setting off a chorus of doomsayers quick to declare that China’s export-oriented, high investment growth model was unsustainable all along.  It is time to take stock. […]

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