-)classical theory that is relevant only to "depression economics"-refuting the interpretation offered by J. R. Hicks (1937) in his … depression economics continues to describe the mainstream's failure to engage in relevant monetary economics. …

, confusions and ineptness. Samuelson had recognized that this problem of mathematical illiteracy existed in the economics … profession by 1936. Economists were shockingly unprepared in the use of even basic intermediate algebra …

postwar period - from the "Age of Keynes" through the Friedmanian era and the return of Neoclassical economics in a … Markets Hypothesis ; Keynesian Economics ; Orthodoxy ; Heterodox Economics ; Minsky ; Uncertainty ; Rational Expectations …

despite the fact that, initially, RE-NC economics appeared to be a mainly technical extension and refinement of Monetarism …

how the micro-founded theorization of the very foundation of Classical economics – the decentralized price mechanism … – actually undermines the entire structure of Classical economics. The paper establishes the following propositions. (1) If …

The dominant postwar tradition in economics assumes the utility maximization of economic agents drives markets toward … embark on disequilibrium paths. Sometimes these departures are dangerously far reaching. Three great interwar economists set …

This paper compares Marx's economics with those by Sraffa, Keynes, Kalecki and Minsky. The paper takes an "ex post …