European Union: Political Economic and Social Issues
In Europe, where the financial crisis was transformed into national
debt crises in several countries, the current phase of the denial cycle
marked by an official policy approach predicated on the assumption that
normal restored through a mix of austerity, privatization and less state
involvement came through (anti-Keynes). The other view is this.
Governmental investments ““ and financial decision-making to regulate the
effective demand in national economies is based on the basic principles
introduced by John Maynard Keynes in his “General Theory of
Employment, Interest and Money (1936), The solution of the temporary
crisis of the democratic capitalism might be linked to Keynes by his
successors the neo-Keynesians.