In his 'Comments', Tom Michl defends the proposal for a fully funded pension scheme based on a saving-led 'classical growth model' against my Keynesian contention that a higher saving supply would be deflationary in both the short run and the long run. Michl adds a further argument that an...

It is not easy to untangle the logic that in the past led to creation of the European Monetary Union (EMU) and that is currently guiding the prevailing Eurozone (EZ) policies. Although lacking the right institutions, which can be seen as the ultimate root of its crisis, the ten years of the EMU...

The book is the first of its kind to attempt to deal with the economics of pensions and ageing on the basis of a rigorous theoretical framework alternative to neoclassical economics. Sergio Cesaratto breaks the dominant conformism in the current pension debate and explains that the strength of...

Beginning with the current global and European imbalances and crises and consideration of the German reaction to them, the paper explores the political economy origins of the conservative German policy stance. It emerges that an export-oriented economy was a deliberate decision of the German...

This paper aims to examine the pattern of growth in Indonesia, especially after the economic crisis 1997/1998. Indonesia suffered a catastrophic economic crisis from the year 1997 until 1999 and the economy improved from the year 2000 even though it was still dependant on the non-economic...

The European crisis appears as the n-th “this time is different” episode of the financial liberalisation sequence cum fixed exchange rates, capital flows from the centre to the periphery, housing bubble, current account (CA) deficit and indebtedness, default. In the author’s view, although...

It is not easy to untangle the logic that in the past led to creation of the European Monetary Union (EMU) and that is currently guiding the prevailing Eurozone (EZ) policies. Although lacking the right institutions, which can be seen as the ultimate root of its crisis, the ten years of the EMU...