This paper presents the main interpretations of the crisis that have been built within the mainstream general framework. Three theses are examined: the "money glut," the "saving glut," and "information asymmetry" à la Stiglitz. It is argued that the mainstream explanations suffer logical...

This paper proposes a Keynesian view of the current financial crisis, its economic consequences, and solutions to get out of it. We argue that the mainstream economists could not see the crisis coming because of the self-adjusting properties of their economic models. Keynes's theory, on the...

The paper states that, although Post Keynesian interest rules may be feasible and sustainable in favourable circumstances, there is a shared difficulty as for the setting of long-term interest rates in a context of strong uncertainty and shifting liquidity preference. According to Keynes theory...