Abstract
This chapter focuses on the writings of David Ricardo, John Maynard Keynes and Friedrich von Hayek - economists whose contributions to the economic policy debate have been outstanding in real-world economics. Firstly, we present the proposal of David Ricardo, who addresses, in the 19th century, that international free trade could be beneficial for all countries. Then, we present Hayek’s theoretical contribution to economic policy reinforced the free market fundamentalism over government interventions. Finally, we include Robert Mundell’s contribution to the study of macroeconomic policy challenges in open economies which clearly predicted the outcomes of the transformations in exchange rate regimes and global financial regulation after the 1970s.
Keywords: Free trade, Free market fundamentalism, Open economies.
Related Books
Progress in Green Economics
Capitalist Realism in Africa: Realities and Myths in Advertising
Digital Currency: An International Legal and Regulatory Compliance Guide
Firms` Strategic Decisions: Theoretical and Empirical Findings
Firms` Strategic Decisions: Theoretical and Empirical Findings
Firms` Strategic Decisions: Theoretical and Empirical Findings
Intellectual Property Basic Manual for Researchers in Universities
.jpg)
Internet Economics: Models, Mechanisms and Management
Learning Why and How: A Reader in Managing Nonprofit and Voluntary Organizations
Markets, Business and Sustainability