We analyse the long-run imbalances of finance-dominated capitalism underlying the present crisis - which began in 2007 - with a focus on developments in the US and Germany. We argue that beyond inefficient regulation of the financial sector, the severeness of the present crisis has been mainly...

The capitalism John Maynard Keynes struggled to analyse was clearly an industrial capitalism in which the investor used physical capital only to end up with more money than he started with. It is particularly the post Keynesian school of ‘monetary or fundamentalist Keynesianism’ which...