Using the case of handicap sports (like horse racing and golf) as an apt analogy, the Eurozone's leverage of competitiveness is first simply demonstrated. It is then argued that there is a discordance between economic theory, and particularly the theory of international trade, and the concept of...

Η πληθώρα προελεύσεων των συγγραφέων είναι ενδεικτική της απήχησης και εμβέλειας του έργου και της συνεισφοράς της τιμώμενης καθηγήτριας.Τα κεφάλαια...

The euro crisis is not due to excessive sovereign debt. It is rather due to the European leadership that is loath to recognize the euro's flawed architecture and take the steps in the direction of a federal European state, which are needed to complete its unfinished construction. It is...

Seven remaining states are presently on the Eurozone's enlargement agenda: Bulgaria, Croatia, the Czech Republic, Hungary, Poland, Romania and Sweden. Except Sweden, all these countries tend to have low competitiveness not only relative to Germany but also to most of the Eurozone countries...

A distinction is drawn between two notions of competitiveness. 'Essential' competitiveness focuses on the inherent developmental potential of an economy while 'apparent' competitiveness is largely determined by the exchange rate's influence on the current account. A currency union leverages...

Despite the widespread use of the notion of a country's competitiveness in public policy discussion, there is some reluctance among academic economists in accepting the concept. The competitiveness notion can be made theoretically acceptable by distinguishing its useful integral part, which...

The appeal of the 'Micro-foundations' project, which requires that all macroeconomic propositions are reduced to or derived from microeconomic ones, is strongly supported by the considerable force of what Lakatos calls the discipline's 'hard core'. This is particularly so if this project is...

The volume of profits in an economy is a magnitude, which is out of sight of orthodox macroeconomic textbooks and effectively ignored by neoclassical macroeconomics. In contrast, Kalecki's approach brings to the forefront the sources of profits and makes possible their further analysis. In a...

The volume of profits in an economy is a magnitude, which is out of sight of orthodox macroeconomic textbooks and effectively ignored by neoclassical macroeconomics. In contrast, Kalecki’s approach brings to the forefront the sources of profits and makes possible their further analysis. In a...