TY - JOUR T1 - Mali Disiplin: Eleştirel Bir Yaklaşım ve Post-Keynesyen Alternatif TT - Fiscal Discipline: A Critical Approach and The Post-Keynesian Alternative AU - Kiper, Kerem PY - 2023 DA - May DO - 10.25295/fsecon.1230593 JF - Fiscaoeconomia JO - FSECON PB - Ahmet Arif EREN WT - DergiPark SN - 2564-7504 SP - 1787 EP - 1812 VL - 7 IS - 2 LA - tr AB - Bu çalışma, neoliberalizmin temel ilkelerinden birisi olan ve kamu bütçesinin sürekli denk olması gerektiğini ifade eden mali disiplin konusunu ele almaktadır. Yeni Makroekonomik Uzlaşı çerçevesinde ortodoks yaklaşım, maliye politikalarını pasif bir konuma çekerek, sadece fiyat istikrarına odaklanmaktadır. Diğer yandan kriz dönemlerinde, bir stabilizatör işlevi yüklediği bütçe açıklarına başvurmaktadır. 2008 küresel finansal krizi ve Covid-19 pandemisinde olduğu gibi, ekonomiler krizden çıkış için bütçe açıklarına sarılmıştır. Fakat biraz toparlandıktan sonra, yeniden mali disipline dönülmüş, krizlerin faturası ise kemer sıkma politikalarıyla, ücretli ve düşük gelirli kesimlerin üzerine bırakılmıştır; nitekim ortodoks maliye politikaları, doğrudan istihdam artışlarını ve gelir dağılımı adaletini hedeflememektedir. Öte yandan post-Keynesyenler, tam istihdam ve adil gelir dağılımının maliye politikalarıyla başarılabilir hedefler olduğunu ileri süren alternatif yaklaşımlar sunmaktadırlar. Çalışma, mali ortodoksiye karşı alternatif politika önermelerini, mevcut ve potansiyel kısıtları dikkate alarak, post-Keynesyen bakış açısıyla tartışmaktadır. KW - Maliye Politikası KW - Bütçe Açığı KW - Fonksiyonel Maliye KW - Modern Para Teorisi KW - Tam İstihdam N2 - This study examines the fiscal discipline issue, one of neoliberalism's core principles that says that the public budget should always be balanced. The orthodox approach, within the framework of the New Macroeconomic Consensus, takes a passive stance towards fiscal policies and focuses only on price stability. However, it resorts to budget deficits during crisis periods, assuming a stabilizing function. In the wake of crises such as the 2008 global financial crisis and the Covid-19 pandemic, economies have relied on budget deficits for recovery. Once the recovery was achieved, fiscal discipline was restored, and the burden of the crisis was shifted to wage earners and low-income segments through austerity policies, meaning orthodox fiscal policies do not directly target employment and fair income distribution. On the other hand, post-Keynesians offer alternative approaches, arguing that full employment and fair income distribution can be achieved through fiscal policies. This study discusses alternative policy proposals against fiscal orthodoxy from the post-Keynesian perspective, considering existing and potential constraints. CR - Aboobaker, A. & Uğurlu, E. N. (2023). Weaknesses of MMT as a Guide to Development Policy. Cambridge Journal of Economics, Advance online publication. Doi: 10.1093/cje/bead009 CR - Akyol, S. (2016). Neoliberalizm Tartışmalarına Maliye Politikası Çerçevesinden Bir Bakış. Anadolu Üniversitesi Sosyal Bilimler Dergisi, (Özel Sayı), 291-307. CR - Altvater, E. (1997). Financial Crises on the Threshold of the 21st Century. L. Panitch (Ed.), Socialist Register 1997: Ruthless Criticism of All That Exists (48-74). Merlin Press: London. CR - Angeriz, A. & Arestis, P. (2009). The Consensus View on Interest Rates and Fiscal Policy: Reality or Innocent Fraud?. Journal of Post Keynesian Economics, 31(4), 567-586. Doi: 10.2753/PKE0160-3477310403 CR - Arestis, P. & Resende, M. F. C. (2015). Fiscal Policy and the Substitution Between National and Foreign Savings. Journal of Post Keynesian Economics, 37(3), 436-458. Doi: 10.1080/01603477.2015.1000168 CR - Arestis, P. & Sawyer, M. (2003). The Case for Fiscal Policy. Working Paper 382, Levy Economics Institute CR - Arestis, P. & Sawyer, M. (2004). On the Effectiveness of Monetary Policy and of Fiscal Policy. Review of Social Economy, 62(4), 441-463. Doi: 10.1080/0034676042000296218 CR - Armstrong, P. (2019). An MMT Perspective on Macroeconomic Policy Space. Real-World Economics Review, 89, 32-45. CR - Aslan, I. (2021). Employer of Last Resort as a New “New Deal”: A Few Thoughts on Turkey. American Review of Political Economy, 16(2), 1-14. Doi: 10.38024/arpe.235 CR - Bağımsız Sosyal Bilimciler. (2008). 2008 Kavşağında Türkiye: Siyaset, İktisat ve Toplum. İstanbul: Yordam Kitap. CR - Bonizzi, B., Kaltenbrunner, A. & Michell, J. (2019). Monetary Sovereignty is a Spectrum: Modern Monetary Theory and Developing Countries. Real-World Economics Review, 89, 46-61. CR - Bougrine, H. (2012). Fiscal Austerity, the Great Recession and the Rise of New Dictatorships. Review of Keynesian Economics, (Inaugural Issue), 109-125. Doi: 10.4337/roke.2012.01.07 CR - Cömert, M. (2021). Maliye Politikasında Yeni Arayışlar: Alternatif İzlekler Üzerine Bir Giriş Denemesi. Yönetim ve Ekonomi Dergisi, 28(2), 309-332. CR - Davidson, P. (2004). A Post Keynesian View of the Washington Consensus and How to Improve it. Journal of Post Keynesian Economics, 27(2), 208-230. Doi: 10.1080/01603477.2004.11051440 CR - De Paula, L. F., Fritz, B. & Prates, D. M. (2017). Keynes at the Periphery: Currency Hierarchy and Challenges for Economic Policy in Emerging Economies. Journal of Post Keynesian Economics, 40(2), 183–202. Doi: 10.1080/01603477.2016.1252267 CR - Fontana, G. & Setterfield, M. (2009). Macroeconomics, Endogenous Money and the Contemporary Financial Crisis: A Teaching Model. International Journal of Pluralism and Economics Education, 1(1–2), 130–147. CR - Forstater, M. (1999). Functional Finance and Full Employment: Lessons from Lerner for Today. Journal of Economic Issues, 33(2), 475-482. CR - Gallardo, J. L. (2003). Budget Deficit. King, J. E. (Ed.), The Elgar Companion to Post Keynesian Economics (34–38). Cheltenham, UK: Edward Elgar. CR - Gürkan, C. & Karahanoğulları, Y. (2014). Neoliberalizmin Krizi ve Kamu Maliyesi. Kocaeli Üniversitesi Sosyal Bilimler Dergisi, 27, 1-29. CR - Işık, S. (2009). İstihdam Bağlamında Neo Liberal Yaklaşıma Post Keynesyen Karşı Duruş: Devletin Nihai İşveren Olma Rolü. "İş, Güç" Endüstri İlişkileri ve İnsan Kaynakları Dergisi, 11(2), 137-162. Doi: 10.4026/1303-2860.2009.0105.x CR - Kaboub, F. (2007). Employment Guarantee Programs: A Survey of Theories and Policy Experiences (Working Paper No. 498). Annandale-on-Hudson, N.Y: The Levy Economics Institute of Bard College. CR - Kalecki, M. (1944). Three Ways to Full Employment. Balogh, T. (Ed.), The Economics of Full Employment (39-58). Oxford: Basil Blackwell. CR - Kelton, S. (2020). The Deficit Myth: Modern Monetary Theory and the How to Build a Better Economy. London: John Murray. CR - Keynes, J. M. (1936). The General Theory of Employment, Interest, and Money. London: Macmillan. CR - Kiper, K. (2021). Industrial Pricing in Turkish Manufacturing During the Early 2000s: A Post-Keynesian Approach. International Journal of Political Economy, 50(2), 165-181. Doi: 10.1080/08911916.2021.1936910 CR - Kregel, J. A. (1985). Budget Deficits, Stabilisation Policy and Liquidity Preference: Keynes’s Post-War Policy Proposals. Vicarelli, F. (Ed.), Keynes’s Relevance Today (28-50). Palgrave Macmillan, London. Doi: 10.1007/978-1-349-17834-6_3 CR - Krugman, P. R. (1999). Currencies and Crises. Cambridge, MA: MIT Press. CR - Lavoie, M. (2013). The Monetary and Fiscal Nexus of Neo-Chartalism: A Friendly Critique. Journal of Economic Issues, 47(1), 1-32. CR - Lavoie, M. (2022). Post-Keynesian Economics: New Foundations (2nd Edition). Edward Elgar. CR - Lerner, A. P. (1943). Functional Finance and the Federal Debt. Social Research, 10(1), 38-51. CR - Lerner, A. P. (1951). Economics of Employment. McGraw-Hill. CR - Lodewijks, J. (2003). Bastard Keynesianism. King, J. E. (Ed), The Elgar Companion to Post Keynesian Economics (24-30). Cheltenham, UK: Edward Elgar. CR - Marangos, J. (2012). The Post Keynesian Retort to "After the Washington Consensus". Journal of Post Keynesian Economics, 34(4), 583-610. Doi: 10.2753/PKE0160-3477340402 CR - Mitchell, W., Wray, L. R. & Watts, M. (2019) Macroeconomics. London: Red Globe Press. CR - Mosler, W. (1997). Full Employment and Price Stability. Journal of Post Keynesian Economics, 20(2), 167-182. CR - Neto, A. F. C. & Vernengo, M. (2004). Fiscal Policy and the Washington Consensus: A Post Keynesian Perspective. Journal of Post Keynesian Economics, 27(2), 333-343. Doi: 10.1080/01603477.2004.11051435 CR - Nevile, J. W. (2003). Fiscal Policy. King, J. E. (Ed), The Elgar Companion to Post Keynesian Economics (149–153). Cheltenham, UK: Edward Elgar. CR - Nikiforos, M., Carvalho, L. & Schoder, C. (2015). Twin Deficits in Greece: In Search of Causality. Journal of Post Keynesian Economics, 38(2), 302-330. CR - Papadimitriou, D. & Wray, L. R. (1998). What to Do with the Surplus: Fiscal Policy and the Coming Recession. Levy Institute Policy Note, 6. CR - Parguez, A. (2002). A Monetary Theory of Public Finance. International Journal of Political Economy 32(3), 80-97. CR - Pelagidis, T. & Desli, E. (2004). Deficit, Growth and the Current Slowdown: What Role for Fiscal Policy?. Journal of Post Keynesian Economics, 26(3), 457-465. CR - Sawyer, M. (2003). Economic Policy. King, J. E. (Ed.), The Elgar Companion to Post Keynesian Economics (101-105). Cheltenham, UK: Edward Elgar. CR - Sawyer, M. (2020). Kalecki on Budget Deficits and the Possibilities for Full Employment. Review of Political Economy, 32(4), 548-562. CR - Seccareccia, M. (2004). What Type of Full Employment? A Critical Evaluation of “Government as the Employer of Last Resort” Policy Proposal. Investigación Económica, 63(247), 15-43. CR - Seccareccia, M. (2019). From the Age of Rentier Tranquility to the New Age of Deep Uncertainty: The Metamorphosis of Central Bank Policy in Modern Financialized Economies. Journal of Economic Issues, 53(2), 478-487. Doi: 10.1080/00213624.2019.1594540 CR - Shaikh, A. (2018). Kapitalizm: Rekabet, Çatışma, Bunalımlar. Ü. Şenesen (Çev). İstanbul: Kırmızı Yayınları. Shapiro, N. & Sawyer, M. (2003). Post Keynesian Price Theory. Journal of Post Keynesian Economics, 25(3), 355–365. Doi: 10.1080/01603477.2003.11051365. CR - Tcherneva, P. R. (2014). Reorienting Fiscal Policy: A Bottom-Up Approach. Journal of Post Keynesian Economics, 37 (1), 43-66. CR - Tcherneva, P. R. (2020). The Case for a Job Guarantee. John Wiley & Sons. CR - Tokucu, E. & Sarıdoğan, E. (2010). Kriz ve Maliye Politikalarının Geri Dönüşü Çerçevesinde Fonksiyonel Maliye: Bir Literatür Taraması. Marmara Üniversitesi İ.İ.B.F. Dergisi, 29(2), 77-98. CR - Vera, L. (2009). Reassessing Fiscal Policy: Perspectives from Developing Countries. Development and Change, 40(4), 611-643. CR - Wray, L. R. (1998). Understanding Modern Money. Edward Elgar Publishing. CR - Wray, L. R. (2006). Comments on Kelton, S. and Wray, L. R. ‘What a Long, Strange Trip It’s Been: Can We Muddle Through Without Fiscal Policy?’. L. P. Rochon & Gnos, C. (Ed.), Post-Keynesian Principles of Economic Policy. Cheltenham: Edward Elgar. CR - Wray, L. R. (2019). Alternative Paths to Modern Money Theory. Real-World Economics Review, 89(1), 5-22. CR - Zezza, G. (2012). The Impact of Fiscal Austerity in the Eurozone, Review of Keynesian Economics, 1, 37-54. Doi: 10.4337/roke.2012.01.03 UR - https://doi.org/10.25295/fsecon.1230593 L1 - https://dergipark.org.tr/tr/download/article-file/2876862 ER -