Handling the Crisis: A Keynesian vs. Austrian Analysis of the “Great Recession”

Fast, R.

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Title	Handling the Crisis: A Keynesian vs. Austrian Analysis of the “Great Recession”
Authors	Fast, R.
ORCID
Keywords	велика рецесія великая рецессия great recession Кейнс Кейнса Keynes Хайєк Хайек Hayek центральні банки центральные банки central banks австрійська теорія ділового циклу австрийская теория делового цикла austrian business cycle Theory грошово-кредитна політика денежно-кредитная политика monetary policy
Type	Article
Date of Issue	2021
URI	https://essuir.sumdu.edu.ua/handle/123456789/86113
Publisher	Sumy State University
License	Creative Commons Attribution 4.0 International License
Citation	Fast, R. (2021). Handling the Crisis: A Keynesian vs. Austrian Analysis of the “Great Recession”. SocioEconomic Challenges, 5(3), 43-50. https://doi.org/10.21272/sec.5(3).43-50.2021
Abstract	This paper explores the differences between the mainstream economic interventionist view associated with John Maynard Keynes and the heterodox, non-interventionist Austrian School perspective associated with Friedrich Hayek on the Great Recession of 2007-2009. The literature review compares and contrasts articles explaining each view as they attempt to solve the problem of ending the recession. The heterodox Austrian School/Hayekian view is that central banks should take a hands-off approach to recessions, whereas the mainstream neo-Keynesian view is that central banks should take a more active role through monetary easing in an attempt to end the Great Recession.
Appears in Collections:	SocioEconomic Challenges (SEC)