Thomas Palley's (2004) paper 'Asset-based reserve requirements: reasserting domestic monetary control in an era of financial innovation and instability' has radical implications for monetary policy and the operations of central banks in the money markets. This comment argues that Palley's...

In Kalecki's business cycle theory a fall in the rate of profit plays a key role in the onset of recession, causing a fall in investment. This paper shows how the falling rate of profit is an eventual corollary of the steady rate of capital accumulation, which Keynes saw as the key to securing...

The 2013 Nobel Memorial Prize in Economics was awarded to Eugene Fama, Robert Shiller, and Lars Peter Hansen for their empirical analysis of asset prices. The paper reviews critically the work of the three economists and highlights the differing conclusions that the three researchers reached on...