The monetarist counterrevolution and the stagflation period of the 1970s were among the theoretical and practical developments that led to the rejection of fiscal policy as a useful tool for macroeconomic stabilization and full employment determination. Recent mainstream contributions, however,...

Recently, national newspapers all over the world have suggested that we should reread John Maynard Keynes, and that Hyman P. Minsky provides a valuable framework for understanding the world in which we live. While rereading Keynes and discovering Minsky are noble goals, one should also remember...

As an immediate reaction to the recent financial crisis, it has been criticized that many economists are still acting as economic advisers for Ministries or the bureaucracy, although they have not been able to foresee the crisis . Academic economists still hold central positions in policy...

Germany's approach to solving the Eurozone crisis is supposedly based on the ideas of Walter Eucken (1891–1950), the founder of ordoliberalism. In this and other contexts, Eucken's work has been described as being in direct opposition to that of John Maynard Keynes. Our paper aims to clarify...

This paper compares the interconnections between dominant economic thought and processes of policy-making in the area of labour market reforms in Germany in the late 1960s and the early 2000s. The transition in labour market policies in this period could be described as a change from an active...