Geoff Harcourt has been a thoroughgoing Keynesian committed to the achievement of sustainable (environmental and otherwise) and equitable (nationally and internationally) economic development and growth, and full employment of the available labour force. Achieving such an objective would...

The purpose is to examine some of the links in the chain which is said to run from the rate of interest to the rate of inflation. It is argued that that there is a tendency to slip from arguments which that the rate of interest is related to the price level to suggesting that the rate of...

Books reviewed: Robert Leeson (ed.) (2008): The Keynesian Tradition, Basingstoke Robert Leeson (ed.) (2008): The Anti-Keynesian Tradition, Basingstoke Stefan Ederer (2008): Einkommensverteilung und gesamtwirtschaftliche Nachfrage in Österreich und den Niederlanden, Marburg Neva Goodwin/Julie A....

Contrasts are drawn between mainstream macroeconomics (with the 'New Consensus in Macroeconomics' taken as the current manifestation) and heterodox macroeconomics and their abilities to comprehend the financial crises and world wide recession of 2007 – 09 for macroeconomic paradigms is...

Books reviewed: G.C. Harcourt, Prue Kerr (2009): Joan Robinson, Basingstoke Tracy Mott (2010): Kalecki's Principle of Increasing Risk and Keynesian Economics, New York David Colander (ed.) (2006): Post Walrasian Macroeconomics. Beyond the Dynamic Stochastic General Equilibrium Model, Cambridge...

The paper argues that macroeconomic analysis has to be based on path dependency which is treated as a broader concept than hysteresis. The ways in which path dependency necessarily arises in the context of the dual role of investment on demand and capacity formation are next considered. The...

First paragraph: Malcolm, our first set of questions is about your career in retrospective. You have been a professional economist for more than 40 years. What was your motivation to become an economist, how did you get in contact with heterodox economics and what were the major steps in your...

First paragraph: In early August 2009 the 2nd Summer School of the Research Network Macroeconomics and Macroeconomic Policies (FMM) was held in Berlin. As in the previous year, about 50 graduate students, young researchers and senior lecturers from all over the world came together to discuss...

First paragraph: You are looking back on more than 40 years of academic life and you will enter your 70th year of life this year. What was your motivation to become an economist and what were the major steps in your career as a professional economist?

This special issue of Intervention. European Journal of Economics and Economic Policies is devoted to Geoff Harcourt, self-proclaimed Australian patriot and Cambridge economist. His work is squarely within the Political Economy approach to economics. In 2010 Geoff Harcourt decided to return back...