Post Keynesian theory as opposed to Walrasian theory does not provide the foundations for a unique general equilibrium but claims the existence of multiple equilibrium positions. In this article, such a multiple of equilibrium positions is explained by different market constellations which are...

It is now a few years since the introduction of the common currency, and Europe is still experiencing high unemployment. The conventional logic attributes this problem to strong trade unions and other flaws in the labour market. This article takes a different approach. Using a game theoretic...

Durch die Finanz- und Wirtschaftskrise sind einschneidende Veränderungen im ökonomischen Governance-System der EU ausgelöst worden. Die im Zuge der Krise ergriffenen Maßnahmen werden hier kritisch untersucht. Dabei stellt der Autor fest, dass die Veränderungen den Empfehlungen des „Old...

It will be argued that it is not of fundamental importance for growth and employment whether the EU clings to the Euro or allows for a dissolution of the Eurozone and a reemergence of national currencies but how multi-level macroeconomic coordination of different policy areas and nation-states...