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Why do economies go into recession, and what should policymakers do? How do governments use money to influence the economy?
Over the past century governments have used a variety of strategies to avoid economic instability, and the current economic crisis has been handled very differently from the Great Depression, the last comparable global downturn. Getting the balance right - between government spending and taxation, low inflation and low unemployment, low interest rates for borrowers and rewards for savers - is difficult in practice, and the subject of ongoing debate in economic theory.
Track 1: Fiscal Response and Stimulus
Nicholas Crafts (Professor of Economics, Warwick University) discusses fiscal response.
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Tracks in this podcast:
Track | Title | Description |
---|---|---|
1 | Fiscal Response and Stimulus | Nicholas Crafts (Professor of Economics, Warwick University) discusses fiscal response. Play now Fiscal Response and Stimulus |
2 | Aggregate Demand | Roger Farmer (Professor of Economics, University of California Los Angeles) questions Keynesian ideas on aggregate demand Play now Aggregate Demand |
3 | State Intervention | Stewart Lansley, economist and financial journalist, discusses State Intervention Play now State Intervention |
4 | Stimulus Spending | Mariana Mazzucato (Professor of Economics, Sussex University) discusses Stimulus Spending Play now Stimulus Spending |
5 | Quantative Easing | Pontus Rendahl (Dept of Economics, Cambridge University) discusses Pros and Cons quantitative easing Play now Quantative Easing |
6 | Fiscal Policy | Waltraud Schelkle (European Institute, London School of Economics) discusses automatic stabilizers Play now Fiscal Policy |
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Originally published: Friday, 28th March 2014
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- Body text - Content : Copyright The Open University
- Audio/Video tracks: Creative Commons BY-NC-SA 4.0 The Open University
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- Image 'Welcome to Harlem mural' - Copyright: Production team
- Image 'Scarborough view from sea' - By Squirmelia via Flickr under Creative Commons license under Creative-Commons license
- Image 'Sign on roof of bingo hall' - By Chitrapa (Own work) [CC-BY-SA-3.0], via Wikimedia Commons under Creative-Commons license
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Publication details
-
Originally published: Friday, 28th March 2014
Copyright information
- Body text - Content: Copyright The Open University
- Audio/Video tracks: Creative Commons BY-NC-SA 4.0 The Open University
- Image 'Fiscal Responsibility and Monetary Policy' - Copyright: The Open University
- Image 'Economics and the 2008 crisis: a Keynesian view' - Copyright: Mark Henley
- Image 'A pile of pound coins' - Copyright free: PublicDomainPictures
- Image 'Managing the European economy after the introduction of the Euro' - Copyright: Used with permission
- Image 'A bruised piggy bank about to be smashed open with a hammer.' - Copyright: Tameek | Dreamstime.com
- Image 'Unison rally in Oxford' - Photo by Kaihsu Tai / CC BY-SA 3.0 under Creative-Commons license
- Image 'Data cover image ' - Copyright: Ivra00 | Dreamstime.com
- Image 'Retiring lives? Old age, work and welfare' - Copyright: Used with permission
- Image 'Welcome to Harlem mural' - Copyright: Production team
- Image 'Scarborough view from sea' - By Squirmelia via Flickr under Creative Commons license under Creative-Commons license
- Image 'Sign on roof of bingo hall' - By Chitrapa (Own work) [CC-BY-SA-3.0], via Wikimedia Commons under Creative-Commons license
- Image 'Stuart Hall' - Copyright: The Open University
- Image 'laurie taylor question 9 image' - The Open University under Creative Commons BY-NC-SA 4.0 license
- Image 'The politics of devolution' - Copyright: Used with permission
- Image 'Behjat Abdula' - Giota Alevizou under Creative Commons BY-SA 4.0 license
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- Image 'Black Lives Matter Protest, Bristol, UK - the statue of Edward Colston, a slave trader, being thrown in the harbour' - Keir Gravil via Flickr under Creative Commons BY-NC-SA 4.0 license
- Image 'Glasgow Royal Infirmary -rear of buildings' - Murray Barnes, CC BY 2.0, via Wikimedia Commons under Creative-Commons license
- Image 'Viktor Pinchuk' - David Shankbone via Wikimedia under CC-BY licence under Creative-Commons license
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