Social changes accompanying the evolution of technology and its contradictions find expression in dynamic desequilibria which affect the internal economies of both the central and the peripheral countries. This article analyses these disequilibria and puts forward considerations relating to the...

In this paper the vision of the "Young" and "Elder" Lamfalussy on the origins of instability in capitalist economies will be contrasted. The young Lamfalussy found the origins of instability in medium-term cumulative processes in the real sector of the economy, very much inspired by the vicious...

I consider an economy growing along the balanced growth path that is hit by an adverse shock to its capital accumulation process. The model integrates efficiency wages due to imperfect monitoring of the quality of labour in a search and matching framework with methods of dynamic general...