Greek Tragedy in European Theatre - the Economic Consequences of Depression Economics

Research output: Working paperDiscussion paper

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Abstract

In view of Keynes’ intellectual heritage the essay highlights why one should expect that internal devaluation policies springing from classical orthodoxy, are futile and counterproductive in restoring economic activity. It highlights that Keynes’s despair at the failure of the political and economic establishment of his own day to counter the Great Depression applies equally to current events. In summary, if private individuals or firms are unwilling to spend on new capital investment then it is essential the government does it for them. The central message of this essay is the vital necessity for the efforts to recovery to be well-orchestrated, well programed by the strategic intervention of the government to increase economic activity.
Original languageEnglish
PublisherUniversity of Aberdeen Business School
Number of pages21
Publication statusPublished - Feb 2017

Publication series

NameDiscussion Paper in Economics
PublisherUniversity of Aberdeen
No.1
Volume17
ISSN (Electronic)0143-4543

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Economic activity
Government
Economic consequences
Economic depression
Heritage
Economics
John Maynard Keynes
Orthodoxy
Great Depression
Capital investment
Devaluation

Keywords

  • internal devaluation
  • Austerity
  • Keynes
  • European economy
  • Greek economy

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)

Cite this

Theodossiou, I. (2017). Greek Tragedy in European Theatre - the Economic Consequences of Depression Economics. (Discussion Paper in Economics; Vol. 17, No. 1). University of Aberdeen Business School.

Greek Tragedy in European Theatre - the Economic Consequences of Depression Economics. / Theodossiou, Ioannis.

University of Aberdeen Business School, 2017. (Discussion Paper in Economics; Vol. 17, No. 1).

Research output: Working paperDiscussion paper

Theodossiou, I 2017 'Greek Tragedy in European Theatre - the Economic Consequences of Depression Economics' Discussion Paper in Economics, no. 1, vol. 17, University of Aberdeen Business School.
Theodossiou I. Greek Tragedy in European Theatre - the Economic Consequences of Depression Economics. University of Aberdeen Business School. 2017 Feb. (Discussion Paper in Economics; 1).
Theodossiou, Ioannis. / Greek Tragedy in European Theatre - the Economic Consequences of Depression Economics. University of Aberdeen Business School, 2017. (Discussion Paper in Economics; 1).
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