A salient feature of the international monetary system is the existence of a hierarchy of currencies. Unlike the major industrialized countries where there exists an international market for their currencies and whose citizens are in a privileged position to be able to borrow internationally and...

Most of the theoretical and empirical literature on the effects of unemployment insurance (UI) during the last 25 years has focused on the supply-side implications. The object of this article is to argue that much of those discussions over the disincentive effects of UI is misdirected. Our...

Given the wide swings in the exchange value of the Canadian dollar over the past decade, some would like to see a return to a fixed exchange rate system in North America. In reviewing the debate between supporters of pegged versus floating rates, there is little analysis found of the...

The central focus of this book is the relationship between money, the sphere of production, and the State. It explores how best to adapt the fundamental ideas of the circulationist perspective to achieve a better understanding of the financialisation of the production processes within...

This book argues that in many jurisdictions free market advocates have resorted to public sector downsizing and privatization as a means of alleviating problems of unemployment and slow economic growth and that, as a consequence, the strategy of reducing public deficits, balancing budgets and...

This paper presents some challenges encountered by non-neoclassical economists in explaining that money is not a commodity, that it is not backed by gold, and that it is not scarce. We discuss the role of commercial banks in creating money by simply granting loans. We then explain that, in a...

The literature on growth theory is rich with models attempting to explain growth differences among countries. Several variables have been proposed many of which were found to be positively related to growth. However, a major problem with these models is that the factors explaining growth are...