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Journals / Finans Politik ve Ekonomik Yorumlar Dergisi / 2013 / Cilt: 50 - Sayı: 583

Global financial crisis in the context of free market supporters and interventionists

Piyasacılar ve müdahaleciler bağlamında global finansal kriz

Emin ERTÜRK
BAHAR BAYSAL KAR
GÖRKEM BAHTİYAR
HASAN BAKIR
Pages
7–26
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The aim of this study, is to investigate the process of economic crisis, causes and outcomes of crises from the different frameworks of pro-market schools (Austrian, Mone- tarist, New Classical and New Keynesian Schools) and interventionists (mainly Keynes and New Keynesians), the fiscal and monetary policies in the USA as the central theme while elaborating the first bust of 2007-2009.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:Economic crises, aggrevate discussions in economic science and also put the problem of choosing among various economic policy applications at the center of debate in economics.
📊
Key Findings & Data:Interventions to this system will increase uncer- tainity and cause the process of recovery to be longer.
💡
Conclusion & Impact:The aim of this study, is to investigate the process of economic crisis, causes and outcomes of crises from the different frameworks of pro-market schools (Austrian, Mone- tarist, New Classical and New Keynesian Schools) and interventionists (mainly Keynes and New Keynesians), the fiscal and monetary policies in the USA as the central theme while elaborating the first bust of 2007-2009.
🔬Design:Research Article
📍Scope:2007-2009 Verileri
⚙️Variables:Domain Parameters

Abstract

Economic crises, aggrevate discussions in economic science and also put the problem of choosing among various economic policy applications at the center of debate in economics. On the one hand the proponents of free markets, giving credit to effective financial markets and the stabilising role of expectations regar- ding financial variables; often emphasize the importance of tax cuts and deregu- lation. To them economy is intrinsically stable, returning to its equilibrium rapidly even if it had faced a distortion. Interventions to this system will increase uncer- tainity and cause the process of recovery to be longer. On the other hand, Key- nes and his followers; while not refusing the merits of markets, consider various types of economic policy applications necessary to overcome crises. The aim of this study, is to investigate the process of economic crisis, causes and outcomes of crises from the different frameworks of pro-market schools (Austrian, Mone- tarist, New Classical and New Keynesian Schools) and interventionists (mainly Keynes and New Keynesians), the fiscal and monetary policies in the USA as the central theme while elaborating the first bust of 2007-2009.

Özet

İktisadi krizler, hem bilim olarak iktisadın iç hesaplaşmalarını yeniden alevlendirmekte, hem de iktisat politika uygulamalarını iktisat tartışmalarının odağına oturtmaktadır. Bir yanda serbest piyasa yanlısı okullar, genellikle vergi indirimleri ve deregülasyonun önemini vurgularken, etkin finansal piyasaların ve finansal piya- salarda bekleyişlerin istikrar sağlayıcı rolüne itibar etmektedir. Onlara göre ekonomi özünde istikrarlıdır, bazı rahatsızlıklarla karşılaşsa bile hızla denge seviyesine geri döner. Sisteme müdahale belirsizliği arttırarak, iyileşme süresini uzatır. Diğer yanda piyasayı reddetmemekle beraber, iktisat politika uygulamalarının çeşitli versiyonlarını krizden çıkışta zorunlu gören Keynes ve taraftarları ise aktif talep yönetiminin önemine işaret etmektedir. Bu çalışmanın ana konusu, ya- şanan kriz sürecine ve krizlerin sebep ve sonuçlarına piyasacı okullar (Avustur- ya Okulu, Monetarist, Yeni Klasik ve Reel Konjonktür) ve müdahaleciler (temel- de Keynes ve Yeni Keynesyen Okullar) açısından bakmak, merkezi tema olarak da ABD üzerinden para ve maliye politikalarını irdelemek ve 2007-2009 arasında yaşanan birinci dip üzerinde durmaktır.

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Cite This Article

ERTÜRK, E., KAR, B. B., BAHTİYAR, G., BAKIR, H. (2013). Global financial crisis in the context of free market supporters and interventionists. Finans Politik ve Ekonomik Yorumlar Dergisi, Cilt: 50 - Sayı: 583, 7–26. https://ajindex.com/articles/214795

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