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The
global economic crisis has created an
opportunity to rethink macroeconomics
for development. Rethinking macroeconomic
policies requires using fiscal and monetary
policies for the pursuit of development
objectives and not just for the management
of inflation and the elimination of macroeconomic
imbalances. In doing so, it is essential
to overcome the constraints embedded in
orthodox economic thinking and recognise
the constraints implicit in the politics
of ideology and interests.
* This article
was originally published in the Brazilian
Journal of Political Economy, Vol. 31,
No. 3 (123), pp 339-351, July-September/2011.
November
14, 2011.
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