First paragraph: During the recent decades the financial sectors of developed and developing countries as well as global financial relations have changed remarkably. The overall importance of financial factors for real investment and growth of non-financial business has risen, as has the...

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...

Books reviewed: Schettkat, Ronald/Langkau, Jochem (Hg.) (2007): Aufschwung für Deutschland. Plädoyer international renommierter Ökonomen für eine bessere Wirtschaftspolitik, Bonn Roncaglia, Alessandro/Sylos Labini, Paolo (2008): Geschichte des ökonomischen Denkens. Eine kurze Einführung,...

Books reviewed: Jonathan P. Goldstein/Michael G. Hillard (eds.) (2009): Heterodox Macroeconomics: Keynes, Marx and Globalization, London Mathew Forstater/L. Randall Wray (eds.) (2008): Keynes for the Twenty-First Century. The Continuing Relevance of The General Theory, Basingstoke L. Randall...

First paragraph: Functional income distribution has shifted dramatically in the past 25 years. The wage share in the Euro area has fallen by ten percentage points since 1981.

Post-Keynesian Economics (PKE) is at the crossroads. Post-Keynesians (PKs) have become effectively marginalized; the academic climate at universities has become more hostile to survival and the mainstream has become more diverse internally. Moreover, a heterodox camp of diverse groups 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....

Books reviewed: Becker, Joachim/Weissenbacher, Rudy (2007): Dollarization, Euroization and Financial Instability. Central and Eastern European Countries between Stagnation and Financial Crisis?, Marburg Arestis, Philip/Sawyer, Malcolm (eds.) (2006): A Handbook of Alternative Monetary Economics...

First paragraph: The Research Network Macroeconomics and Macroeconomic Policies (FMM) has existed since 1996 as a platform for analysis, research and discussion of macroeconomic issues. It is primarily based in Germany, Austria and Switzerland, but it has established close links to similar...

First paragraph: The world economy is presently suffering from the most severe economic crisis since the Great Depression in the early 1930s. As by now seems to be obvious, the present financial crisis, massive state intervention in the financial markets in order to prevent a melt-down, and...