POST-KEYNESIAN ECONOMICS AND INTERNATIONAL-POLICY COORDINATION

This article discusses the nature of macroeconomic interdependence in the world economy and questions whether traditional Neoclassical solutions can avoid the associated problems. It further argues that those problems are really manifestations of the problems with typical government macropolicies. The article includes a brief discussion of the Post Keynesian and Neoclassical schools of thought in economics and concludes that efforts by economist to devise guidelines for international coordination bodies are useless in the absence of radical changes in domestic macropolicies.