POST-KEYNESIAN ECONOMICS AND INTERNATIONAL-POLICY COORDINATION

This article discusses the nature of macroeconomic interdependence in the world economy and questions whether traditional Neoclassical solut ions can avoid the associated problems. It further argues that those p roblems are really manifestations of the problems with typical governm ent macropolicies. The article includes a brief discussion of the Post Keynesian and Neoclassical schools of thought in economics and conclu des that efforts by economist to devise guidelines for international c oordination bodies are useless in the absence of radical changes in do mestic macropolicies.