This book uses an institutional-evolutionary approach to analyse economic problems associated with developments in capitalism during the second half of the twentieth century. It argues that economics should centre on institutions - the durable fabric of the economy over time. Drawing on the...

This paper presents an overview of different models which explain financial crises, with the aim of understanding economic developments during and possibly after the Great Recession. In the first part approaches based on efficient markets and rational expectations hypotheses are analyzed, which...

An economic crisis in capitalism is a deep and prolonged interruption of the economy-wide circuit of capital. Crises emerge from within the logic of capitalism's operation, and are manifestations of the inherently contradictory process of capital accumulation. The Marxist tradition...