Pavlina Tcherneva - Rethinking the State - Series 3
Channel: Rethinking the State
Date: 10/10/2013

Pavlina Tcherneva (Levy Economics Institute of Bard College), co-editor (with Mathew Forstater) of Full Employment and Price Stability: The Macroeconomic Vision of William S. Vickrey, discusses the implications of theGreat Financial Crisis of 2007 for employment outcomes and fiscal policy. She argues that the current view of Keynesian 'fiscal policies' is based on a misreading of Keynes. Only boosting demand -- through trickle-down fiscal policy -- is not sufficient to promote inclusive growth: Keynes originally called for a targeted approach ('directed investments' that result in a trickle-up effect) -- including 'on the spot employment' -- as the means to achieve full employment and sustainable growth.

Rethinking the State is a video project coordinated by Prof. Mariana Mazzucato (SPRU/University of Sussex) that links two research grants (Ford Foundation's Entrepreneurial State and INET's Financing Innovation). Every week we release a new video with leading international economists voicing their views on topics such as the role of the State in the economy and in the innovation process, the global financial system, the current economic crisis, the side-effects of austerity measures, and alternative growth and innovation policies.

More info: http://marianamazzucato.com/projects/rethinking_the_state/