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Palgrave Macmillan

Radical Origins to Economic Crises

Germán Bernácer, A Visionary Precursor

  • Book
  • © 2018

Overview

Authors:
  1. Henri Savall

    1. ISEOR, ECULLY CEDEX, France

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  • Based on Bernácer’s Spanish publications and his private correspondence with his contemporary economists
  • Provides an English speaking audience with access to Bernácer’s economic ideas
  • Offers a significant contribution to current debates addressing economic stability and prosperity

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Table of contents (7 chapters)

  1. Front Matter

    Pages i-xx
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  2. A Pre-Keynes Founder of Modern Economics: Germán Bernácer

    1. Front Matter

      Pages 1-1
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    2. Why Publish This Work on Germán Bernácer, the Great Pioneering Spanish Economist, Now?

      • Henri Savall
      Pages 3-19

    3. Biography and Testimonies

      • Henri Savall
      Pages 21-52

  4. Back Matter

    Pages 417-447
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Keywords

About this book

This book presents the complete and pioneering works of the great Spanish economist, Germán Bernácer (1883-1965), to an English audience for the first time. Bernácer, the first director of the Research Service of the Bank of Spain (1930–55), inspired Keynes’ theory but was also a major critic and opponent of it. A macro economist by trade, Bernácer’s major theory related to recurring crises, which he believed were inherent in the existence of speculative markets such as property, works of art, long term currency markets, commercial trading, materials, and energy. Bernácer believed that these speculative markets generate unearned income and hoarding,they abound in financial capital and, when such capital is captured, it then lacks in production industries where real value is created, draining their financing. The author shows how history has repeated itself in this manner in 1929, 2007, 2008, 2014 and 2016.

The author derives his content from Bernácer’s Spanish publications and his private correspondence with his contemporary economists, providing an historical and thematic insight into his thinking. It is well-timed to contribute to current worldwide debates on monetary,financial and budgetary policies needed to implement an economic order that can restore economic stability, providing readers with rare and important insights into the deep roots of crises.



The book will be of interest to all readers interested in the history of economic thought, history of financial crises, Keynesian approaches to economics and criticism to Keynesian approaches.

Authors and Affiliations

  • ISEOR, ECULLY CEDEX, France

    Henri Savall

About the author

Henri Savall is Emeritus Professor at University Jean Moulin Lyon 3, France and Founding President for the Socio-Economic Institute of Firms and Organizations (ISEOR).

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