Abstract During the 1980s and 1990s, many developing countries (DCs) have been engaged in far-reaching reforms of their financial systems, liberalising them and making them more market-oriented. This liberalisation, involving inter alia ‘financial de-repression’ has been inspired partly by...

This short paper aims to contribute to the debate on the causes and remedies for high rates of unemployment and under-employment, which presently afflict large parts of both the North (industrial countries) and the South (developing countries). The starting point for the paper is a recent...

A main purpose of my contribution is to provide a constructive critique of the present organisation of European economies under liberalisation and globalisation. Contrary to the exaggerated claims in leading economic circles about the virtues of this economic regime, its actual record has been...

Abstract A most pressing problem before the world community today is that of unemployment and underemployment - the existence of mass unemployment in advanced economies (the North) and the lack of adequate employment opportunities in many developing countries (the South) for their fast-growing...

Abstract In a famous passage in chapter 12 of the General Theory, Keynes observed: "As the organisation of investment markets improves, the risk of the predominance of speculation does, however, increase. In one of the greatest investment markets in the world, namely, New York, the influence of...

Abstract The last decade has witnessed a very fast growth of foreign direct investment (FDI) - this both reflects and extends the globalization of production. Although the greater part of FDI is still carried out by multinationals of one advanced country investing in another, a significant and...