Economic instability in Keynes: elements for the analysis of the effects of the 2008 crisis on the brazilian economy
DOI:
https://doi.org/10.5902/1414650935695Keywords:
Instability, State, KeynesAbstract
The objective of this work is to present an analysis of the period that precedes and succeeds the crisis of 2008 for the Brazilian economy based on Keynes’ theory. According to this author, capitalism is inherently unstable and subject to fluctuations in its main macroeconomic variables: employment and output. In addition, it proposes to analyze the causes of this instability, which consist, among others, of the fact that capitalism operates in an imbalance, with insufficient aggregate demand and involuntary unemployment. It is relevant to analyze Keynes’s approach to fluctuations, since this theory approaches more closely the reality of the capitalist mode of production and presents itself as an alternative to conventional economic theories that advocate economic equilibrium. Based on the analysis of the indicators and based on this theoretical north, it was possible to observe some of the negative effects caused by the 2008 international financial crisis in the Brazilian economy as the inhibition of the generation of new wealth, mainly through the abrupt fall of gross fixed capital formation.Downloads
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