This is a prepublication version of the German language version of the entry on ‘Money’ (‘Geld’) in the ‘Historisch Kritisch Wörterbuch des Marxismus’, a comprehensive dictionary of Marxist terminology being produced as an accompaniment to the Marx-Engels-Gesamt-Arbeite (Marx-Engels...

In this paper, I examine whether Hyman P. Minsky adopted an endogenous money approach in his early work - at the time that he was first developing his financial instability approach. In an earlier piece (Wray 1992), I closely examined Minsky's published writings to support the argument that,...

The Baltic economies were severely hit by the global financial crisis. Gross Domestic Product has contracted considerably. Naturally, it asked what went wrong with the "Baltic economic model". This paper surveys the programme of comprehensive economic reforms in the Baltic countries (the case of...

The Baltic economies were severely hit by the global financial crisis. Gross Domestic Product has contracted considerably. Naturally, it asked what went wrong with the "Baltic economic model". This paper surveys the programme of comprehensive economic reforms in the Baltic countries (the case of...

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...

Most mainstream neoclassical economists completely failed to anticipate the crisis which broke in 2007 and 2008. There is however a long tradition of economic analysis which emphasises how growth in a capitalist economy leads to an accumulation of tensions and results in periodic crises. This...

This review assesses the evolution of economic geography over the past two decades, picking up where Scott's (2000) intellectual history of the field's “great-half century” ends. It is part retrospective and prospective; as such, it aims beyond a historical review to outline some ideas about...

Macroeconomics faced substantial internal and external criticism related to the 2007-09 financial crisis. Much of it was based on the unsustainable idea that its goal could or should be unconditional forecasting of business cycles. Critics specially singled out dynamic, stochastic...