Ramsay, Tony; Lloyd, Christopher
June 2010
Journal of Australian Political Economy;Jun2010, Issue 65, p59
Academic Journal
The article analyzes the role of managed funds in the development of a social democratic strategy, in the light of the quasi-Keynesian state activism that emerged in Australia in response to the Global Financial Crisis (GFC). Economist John Maynard Keynes claimed that full employment depends on the use of policy instruments that can diminish changes in the economic output level. A National Development Fund is proposed which would generate funds to finance a socialised bank that would offer low-interest rate loans for socially productive infrastructure.


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