The 2007/08 financial crisis results in two major problems that issue difficult challenges for the economic theory and policy. The first challenge is the rise of unemployment notwithstanding growing imbalances of budget deficits. The second is the monetary and financial instability threatening...

The 2007 financial crises has brought to eminence and a long overdue recognition to the ideas of Hyman P. Minsky who is a post-Keynesian authority on monetary theory and financial institutions. He had extensively studied the economic fluctuations and recurring instability of the financial system...

Purpose: This critique of Piketty's Capital in the Twenty-First Century summarizes and comments on the main tenets of the author's principal theory. Our aim is to point out the book's contributions to critical debate around social and economic issues, while giving special emphasis to its...

Keynes' principle of effective demand constitutes a pillar for Post Keynesians theories. But Keynes' presentation remains difficult to interpret, mainly because the aggregate demand function is based on entrepreneurs' expectations. The problem is then to demonstrate how these entrepreneurs...

The capital market in Böhm-Bawerk's Positive Theory of Capital appears at several places. The last chapter of the book provides the complete exposition of Böhm's view of this market where present goods are exchanged for future goods. Studying this exposition leads to understand that many...

L'objet de cet article est de faire apparaître la singularité des liens qui unissent l'histoire de la pensée économique et la théorie économique. Une première partie met en évidence ce qui est susceptible d'expliquer la pérennité de la recherche historique. L'accent se trouve ainsi...

L'arrivée de la crise économique en 2008, a obligé les entreprises à faire face à une situation inattendue. Les agences d'emploi sont directement touchées, étant donné la nature même de leur activité. Deux années plus tard, les entreprises espèrent enfin sortir de cette crise. Nous...

This short paper argues that rationally motivated coordination between agents is an important ingredient to understand the current economic crisis. We argue that changes in parameters that model the structure of a macro-economy or financial markets are not exogenous but arise as agents adopt...

The paper argues that the world economy might experiment inflationary pressures (or restrictive policies aimed at fighting them) when the economic depression triggered by the financial crisis is stabilized. The primary cause is that bad money has been (endogenously) delivered which did not lead...

Contrasting with the 1929 great crisis, authorities intervened forcefully in 2008 to stop the disintegration of the financial system. Governments and central banks then sought to revise the prudential regulation in depth. It would be optimistic, however, to believe that prudential measures,...