Mynard Keynes’s The General Theory of Employment, Interest and Money published in 1936, highlighted that the deep, global financial and economic crises have a profound effect on economic thinking and the economic policy-makers. The sage learns from this, and the fool recovers back to his previous flawed theories and practices.
Today, it is also clear that the shocks that trigger these crises are living with us, breaking the growth trends of the economy from time to time, which raises again and again the question, what economics and economic policy practitioners have learned, and can learn from it, or the short-term economic policy interest overcomes the adjustments after the corrections?
In his study, the author checks the effects of the recent global exogenous crisis caused by the pandemic and the desirable correction methods, without which the consequences of the current crisis may be protracted.
Keywords: crisis, economic thinking, economic policy, pandemic, sustainability
