Decolonizing Keynesian Macroeconomics by Jayati Ghosh

 

The 9th Godley-Tobin Memorial Lecture was delivered by Professor Jayati Ghosh, from UMass, Amherst, one of the leading development economists. Jayati argues that Keynesian economics must be further “decolonized” by recognizing how financial globalization and currency hierarchies constrain developing countries. Even fiscally disciplined poorer countries face higher borrowing costs, capital volatility, and reduced policy autonomy, so effective Keynesian policy requires tighter regulation of finance and reform of the international monetary system.