Crises are one of the major areas of interests in economics. Since the disruption of economic activity leads to welfare losses for the people, it has become essential for the economic theory and policy to understand them in the best way. The divisions in economic science within themselves, which are partly due to normative aspects present in the profession, are very well known. The equivalence of these divisions can also be seen in efforts to understand crises in parallel stemming from various differences concerning the economic philosophy. The aim of this study is to examine how different economic schools look at financial crises and to reveal their relevance in explaining the most recent crisis, the Great Recession. Our analysis leads us to the explanatory power of Post-Keynesian Institutionalism on the crisis.
Primary Language | Turkish |
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Subjects | Economics |
Journal Section | Articles |
Authors | |
Publication Date | June 15, 2020 |
Published in Issue | Year 2020 Volume: 6 Issue: 2 |