Crisis triggers change in economic theory, this time bringing healthcare to the forefront of attention. We now have our primary focus on finding a cure, and developing treatment as well as preventive capacities. While saving lives is of utmost interest, securing livelihood is also a priority,...

In the past three decades, several attempts in various directions have been initiated for reforming the pension system. The reforms are needed to ensure financial viability on the one hand, and to achieve greater justice, on the other hand. Parametric reforms are not enough. A paradigm shift is...

Michael Hudson J is for Junk Economics – A Guide to Reality in an Age of Deception ISLET VERLAG, GERMANY, 2017

An age-old debate has recently resurfaced in the columns of a daily newspaper Money creation in practice. Misconceptions and reality. Is the issue still topical; indeed, is it one of journalism? Especially since the crisis, the public is still highly preoccupied with how banks have come to have...

The political and economic changes 25 years ago left a burdensome legacy with an impact still felt today. This legacy includes the huge national debt and the failure to complete a price and wage reform. This study aims to dispel myths about the first government failing to request debt...

Income inequalities result in unequal societies and hinder economic growth in the long-term. Inequalities are evoked by rent seeking, but are also partly provoked by the state itself. The democratic electoral process of the Unites States does not limit financial support, therefore, people...

The paper presents how landslide changes taking place in the 20th century have created a pressure towards lifelong financial planning. Technological advances resulting in high productivity; the polarisation of income and wealth; the changing economic and political role of the state; the...

The philosophy of globalism is neoliberalism. It has become prevalent due to the financialisation of the economy. During the twenty-five years of the so-called Fordist growth regime the interests of the real sector were served by the financial sector. This situation has changed in the last few...