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Keynesian Economics: Investment, Speculation, Crisis and Utopia

Journal: Efil Ekonomi Araştırmaları Dergisi (Vol.5, No. 1)

Publication Date:

Authors : ;

Page : 20-99

Keywords : Marginal Efficiency of Capital; Rate of Interest; Investment; Crisis; The Role of State;

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Keynes focused on the concept of the capital and its development by emphasizing the unemployment. Keynesian theory has turned into an economic revolution by questioning the individualism, the private property and its limits with the analysis of concepts and processes such as the nature of human, the uncertainty, the functioning of capital market and its unstable nature which creates the impoverishment of large masses. Keynes showed how the market economy which can performs in very narrow margins transformed into a casino and the swamp of the speculation with a new series of concepts. In this article, it is analyzed how macroeconomic variables such as profit, saving, investment in a capitalist economy should be examined with reference to Keynes. Furthermore, the incompatibility of prices with values and the dynamics of crisis have been discussed in the context of Keynesian theory.In this paper, Keynes's proposal of solution to these problems has been examined and these solutions evaluated carefully.

Last modified: 2022-03-24 18:26:33