The paper starts by reviewing a recent contribution on long-waves, in order to recall the essential points of a theory that, better than any other, is able to explain the long term development of capitalist economies. Considering that the present technological revolution in ICT is part of the...

The theory of capital market inflation argues that the values of long- term securities markets are determined by a disequilibrium inflow of funds into those markets. The resulting over-capitalization of companies leads to increased fragility of banking and undermines monetary policy and stable...

In Michal Kalecki's work, aggregate profits are shown to be the sum of gross investment, the government budget deficit, the export surplus, and the difference between capitalist consumption and worker savings. In his 1979 paper, Weintraub suggested that the consumption coefficient, the ratio of...