This paper focuses on the future of economic policies with regard to inflation. The dominant approach to inflation over the past two decades or so has been inflation targeting. The global environment of the decade circa 1995 to 2005 with the “China effect†pushing down prices of...

The paper develops a macro-economic analysis along broadly defined Post Keynesian and Kaleckian lines, which incorporates ecological constraints on the pace of economic growth. Since growth is viewed as demand-driven, this involves bringing demand into line with the sustainable ‘ecological...

We have sketched in this paper the theoretical foundations of the 'third way', and suggested that they are rooted in the New Keynesian tradition. Furthermore, we argued that the EMU theoretical foundations are embedded in this theoretical approach. We have examined the policy implications of the...

The paper reviews the theoretical arguments which have been advanced on the relationships between economic growth and growth of the financial sector. This is followed by a similar discussion on financial repression and financial liberalisation. Growth of the financial sector and de-regulation...

The relationships between financial systems and the macroeconomy with emphasis on the saving—investment relationships and the nature of money are set out. A ‘circuitist’ framework is extended to reflect some major features of the era of financialisation since circa 1980

The authors offer a sustained argument that the single currency as currently implemented does not promise to deliver prolonged growth. They contend that the economic impact of the euro, and its accompanying institutions, is likely to be destabilising and deflationary; that the political impact...