To many economists, not to mention all central bankers, inflation is considered to be public enemy number one. This paper seeks to understand why inflation should be so despised. To escape from simultaneous restrictions a temporal single system (TSS) approach is employed. Firstly a simple...

The fields of Political Economy and Input-Output economics are commonly unrelated due to the discrepancy between the qualitative and quantitative analysis in economic science. With the aim to overcome this separation, this paper relates the basic model of Production of Commodities by Means of...

The old theories of imperialism attempted to explain the phenomenon of the militarization of the industrial nations and their conflict over colonies that led to World War I. It was the rise of monopoly capitalism, the emergence of finance capital and the control over the state that led...

Is economics a science or a theology? Nelson sensibly argues that economists are a priestly class; they issue authoritative (scientific) blessings upon the marketplace. The bishops of this class are the mathematicians, who convert ideology into science. This essay, in contrast, argues that...

Is economics a science or a theology? Nelson sensibly argues that economists are a priestly class; they issue authoritative (scientific) blessings upon the marketplace. The bishops of this class are the mathematicians, who convert ideology into science. This essay, in contrast, argues that...

This paper extends a long tradition of Western analyses of Russian economic thought on Keynes, updating the story through the period that followed the global financial crisis of 2007-2008. We survey contemporary views of Keynesianism by mainstream and traditionalist economists and consider the...

The paper is on one of the best Macroeconomics teachers and a finest Marxists of our time, who is none other than Professor Patnaik. The reading is neither decisive nor trivial to understand the contribution of a behemoth personality, nonetheless, presents a humble perception of some of his work...