The paper aims to show some of the complex relationships between institutions and industrial policies. Institutions are important factors determining the slow pace of change of the societies, their economies, States and private sectors, therefore presenting important consequences for the design...

The paper shows the difficulties that the increasing international mobility of capitals set to the execution of monetary policy in the development countries. In modern capitalist economies, more than ever, money should be viewed as an institution. Therefore, it is first necessary to understand...

This paper is a prepublication version of a paper accepted for publication by Third World Quarterly. It offers a critique of the picture of world growth and world inequality generally disseminated by international agencies. The positive view commonly presented depends, it shows, on the...

The paper argues that a formal, and fruitful, historical analogy can be drawn between economics and a religious hierarchy, most notably the mediaeval Catholic church. This idea was fully developed in Freeman (2007), ‘Heavens Above: what equilibrium means for economics’, in Mosini, V (ed)...

This interview is a prepublication version of an article that appeared in the Turkish journal Praxis in September 2002. The article published answers to questions posed by the journal editors to Alan Freeman, Riccardo Bellofiore and Hugo Radice. In this article I have assembled my own responses,...

This is a prepublication version of an analysis of the world economy which appeared in ‘The Inequality of Nations’ in Freeman, A, and Boris Kagarlitsky (eds) (2004) The Politics of Empire: Globalisation in crisis. London: Pluto Press. ISBN: 0 74532 183 6. It develops and presents rigorously...

This article constructs time-varying labour value measures free of such restrictions and shows that they call for a radical re-evaluation of this century's debate on value. We exhibit a counter-example to the Okishio theorem in which labour-saving innovation leads to a continuously-falling...

This paper was presented at 15:00 hours local time in Ankara, Turkey on 11th September 2001. On the basis of an economic analysis of the world economy it surmises an entry into an ‘age of war’ – a period of financial and military competition between advanced countries comparable to the...

This text comprises chapter 1 of Marx and non-equilibrium Economics[1]. It specifies a non-equilibrium (temporal) interpretation of Marx’s theory of value which demonstrates a fully consistent transformation of values into prices and reproduces Marx’s tendential law of the falling profit...

This article presents a ‘sequential and non-dualist’ interpretation of Marx’s value theory. This terminology has since been replaced by the term ‘temporal single system’ (TSSI). In such an interpretation, values transform into prices in accordance with Marx’s two equalities, and the...