A modified three-sector, two-good, Roemerian model, first developed by Hahnel (1980), is used to analyze different international trading regimes. “Free trade†leads to “unequal exchange,†which produces poverty in the South and unemployment in the North. “Fair...

For half a century theories of development have veered between a blind confidence in the capacity of the state to hopes for something more dynamic arising from actors regulated by the market. But each one of these predominant currents has had its controversies. Neo-Keynesians have had to deal...

This paper, drawing on Marxist political economy, conceptualizes the phenomenon of activities of banks as determinants of the current crisis. The main argument is the most significant aspect of recent changes in banking activities has been the turn towards individual wage income as a source of...

This paper, drawing on Marxist political economy, conceptualizes the phenomenon of activities of banks as determinants of the current crisis. The main argument is the most significant aspect of recent changes in banking activities has been the turn towards individual wage income as a source of...

This paper combines both qualitative and quantitative economic analysis which shows that further multilateral trade liberalization through a WTO trade round could yield significant benefits for the global economy.