How to understand the current crisis at the World level? Following Joan Robinson, we present the definition of “new mercantilism”, and explain how mercantilist practices have supported what we commonly call globalization. The current economic crisis can be linked with mercantilist practices:...

ResumenEl presente artículo hace una comparación entre dos corrientes de pensamiento económico que trabajan dentro de la idea de la moneda endógena, como son: postkeynesianos y circuitistas. Se muestran sus similitudes y diferencias en cuanto a la oferta monetaria, destacando así que...

Keynes's theory of investment and the economic cycle is set out. Against this theory it is argued that the current monetary policy framework is not credible. Rather, given its implicit endorsement of financial liberalisation, it is, and has proved, deeply dangerous. Keynes advocated policies...

In the last two decades the Netherlands have experienced an increase in real-estate prices, accompanied by an increase in mortgages and a marked decline in household savings. As a consequence banks are faced with a large retail funding gap outstanding mortgage debt is insufficiently matched by...

In the last few years, a number of scholars has referred to the crop of contributions of Hyman P. Minsky as „required reading? for understanding the tendency of capitalist economies to fall into recurring crises. However, the so-called „financial instability hypothesis? of Minsky relies on...

The aim of this paper is to describe the financial vulnerability of corporate sector by means of a simple Lotka-Volterra model. This should allow us to soften Lavoie's criticism of Minsky's "Financial Instability Hypothesis" which is based on the so called "paradox of debt".

This paper aims to help bridge the gap between theory and fact regarding the so-called "Minsky moments" by revisiting the "financial instability hypothesis" (FIH). We limit the analysis to the core of FIH--that is, to its strictly financial part. Our contribution builds on a reexamination of...

The paper discusses the interactions of changes in income distribution and the accumulation dynamics in the post-Fordist accumulation regime in OECD countries, which is characterized by deregulated financial markets. The neoliberal mode of regulation came with a decisive shift in power relations...

While there is an agreement that the Fordist accumulation regime has come to an end in the course of the 1970s, there is no agreement on how to characterize the post-Fordist regime (or if a such is already in place). The paper seeks put together various arguments related to financialization (in...

Financialization is a process whereby financial markets, financial institutions and financial elites gain greater influence over economic policy and economic outcomes. Financialization transforms the functioning of economic system at both the macro and micro levels. Its principal impacts are to...