Financing Development
In: International journal of political economy: a journal of translations, Band 38, Heft 4, S. 5-25
ISSN: 0891-1916
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In: International journal of political economy: a journal of translations, Band 38, Heft 4, S. 5-25
ISSN: 0891-1916
In: Journal of post-Keynesian economics, Band 38, Heft 1, S. 162-163
ISSN: 1557-7821
By the beginning of the 20th century, the possibility and efficacy of economic planning was believed to have been proven by totalitarian experiments in Germany, the Soviet Union, and, to a lesser degree, Fascist Italy; however, the possibilities and limitations of planning in capitalist democracies was unclear. The challenge in the United States in the 1930s and in postwar France was to find ways to make planning work under capitalism and democratic conditions, where private agents were free to not accept its directives. This paper begins by examining the experience with planning during the first years of the New Deal in the United States, centered on the creation and operation of the National Recovery Administration (NRA) and the Agricultural Adjustment Administration (AAA), and continues with a discussion of the French experience with indicative planning in the aftermath of World War II. A digression follows, touching on the proximity between the matters treated in this paper and Keynes's view that macroeconomic stabilization could require a measure of socialization of investments, following James Tobin's hunch that French indicative planning, as well as some social democrat experiences in Northern Europe, could be playing precisely that role. The paper concludes by identifying the lessons one can draw from the two experiences.
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In: Levy Economics Institute, Working Papers Series
SSRN
Working paper
In: Journal of post-Keynesian economics, Band 39, Heft 3, S. 287-307
ISSN: 1557-7821
In: Journal of post-Keynesian economics, Band 39, Heft 1, S. 93-114
ISSN: 1557-7821
The Brazilian economy in 2015 was afflicted by a lethal combination of decelerating activity and accelerating inflation. Expectations for 2016 are equally or even more adverse, since the effects of rising unemployment emerge only after a lag. The domestic debate has pitted analysts who believe the crisis is due exclusively to past policy mistakes against those who believe that all was well until the government decided to implement austerity policies in 2015. A closer examination of the evidence shows that, in fact, both causes contributed to the crisis. But it also suggests that its depth has a more proximate cause in the political collapse of the federal government in 2015, which led Brazilian society to an impasse for which one cannot yet visualize the solution.
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In: Entwicklung und Zusammenarbeit: E + Z, Band 54, Heft 2
ISSN: 0721-2178
In: International journal of political economy: a journal of translations, Band 38, Heft 4, S. 5-24
ISSN: 1558-0970
In: Journal of post-Keynesian economics, Band 32, Heft 2, S. 235-248
ISSN: 1557-7821
In: Journal of post-Keynesian economics, Band 31, Heft 2, S. 191-212
ISSN: 1557-7821
In: International journal of political economy: a journal of translations, Band 32, Heft 4, S. 35-48
ISSN: 0891-1916
In: Journal of post-Keynesian economics, Band 23, Heft 2, S. 235-266
ISSN: 1557-7821
In: Journal of post-Keynesian economics, Band 19, Heft 3, S. 461-487
ISSN: 1557-7821
In: Journal of post-Keynesian economics, Band 18, Heft 2, S. 159-175
ISSN: 1557-7821