This paper presents a critique of the traditional textbook representation of fiscal policy, and highlights the misleading policy implications perpetuated by this analysis. In particular, the conclusion that fiscal deficits are likely to be associated with higher interest rates is disputed, as is...

The paper examines industrial relations in the shipping industries of two Liberal Market Economies (LMEs), Australia and the United States and in two Coordinated Market Economies (CMEs), Germany and Denmark. Hall and Soskice?s (2001) theory of Liberal versus Coordinated market economies has been...