Raghuram Rajan — Debt, Monetary Policy, and Unintended Consequences
The Joe Walker Podcast
The Ineffectiveness of Keynesian Approach and the Importance of Structural Reforms
This chapter discusses the ineffectiveness of the Keynesian approach to restoring aggregate demand after the global financial crisis and emphasizes the need for structural reforms. It highlights the importance of addressing inequality, focusing on capability-building and skill development to boost demand. The chapter concludes that instead of relying on stimulus, the key is to focus on reform and development.
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